World Bank says ready to 'mobilize' help for Japan

March 12, 2011 | 07:57

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The World Bank on Friday said it was ready to help the recovery effort in quake- and tsunami-struck Japan by mobilizing and deploying specialists to support recovery and reconstruction.

"The World Bank has extensive experience in disaster risk management," the development lender said in a statement.

"We are quickly able to mobilize and deploy specialists to support recovery and reconstruction efforts in Japan and the region."

Although Japan -- as one of the world's richest nations -- has not been eligible for aid from the World Bank since the the 1960s, the bank has written to Japanese Prime Minister Naoto Kan to formally offer assistance.

Bank officials pointed to the organization's experience in providing post-disaster damage and loss assessments.

During last year's earthquake in Haiti, which killed 220,000, the bank sent teams to assess emergency reconstruction needs.

The scale of the damage in Japan is not yet known, but is likely to run into the billions of dollars if previous disasters are any guide.

According to insurer Munich Re the Haiti earthquake caused losses worth eight billion dollars.

Separate earthquakes in Chile and New Zealand last year cost $30 billion and $6.5 billion, respectively.

AFP

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