Study: Haiti reconstruction could cost nearly 14 billion dollars

Washington - Haiti's reconstruction from last month's earthquake could cost nearly 14 billion dollars, the Inter-American Development Bank (IDB) said Tuesday, making it one of the most expensive disasters in modern history. The preliminary estimate to rebuild roads, schools, hospitals and other critical infrastructure in Haiti reflected "the enormity of the challenge that lies ahead in reconstructing Haiti," according to the authors of an IDB study released in Washington.

The study offered a low estimate of 8.1 billion dollars in damages from the January 12 earthquake. But a series of factors meant that a cost of 13.9 billion dollars was "within statistical error."

The study estimates the death toll from the magnitude-7 quake at between 200,000 and 250,000 people. The quake left much of Haiti's capital Port-au-Prince and surrounding areas in ruins.

"Raising such a figure will require many donors, bilateral, multilateral and private," the study said.

The monetary estimate is the highest to date of what it will take to rebuild the earthquake region. In late January at a meeting in Canada, international donors generally committed themselves to a 10- year effort, but no dollar amounts were mentioned. A donor conference is to take place in New York in March or April to solicit commitments.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/show/309570,study-haiti-reconstruction-could-cost-nearly-14-billion-dollars.html.