WB completes Palu, Donggala earthquakes loss estimation

Nusa Dua, Bali (ANTARA News) - The World Bank (WB) has completed an estimation of losses caused due to the earthquakes, tsunami, and liquefaction which hit Palu and Donggala (Central Sulawesi Province), WB President Director Kristalia Georgieva said here Wednesday.

"We have just completed an initial assessment of the damage and the economic loss caused by the earthquakes and tsunami. We will work with the Indonesian Government on the priorities for reconstruction, and then the Indonesian Government will tell us how much is needed," Georgieva said after making a courtesy call to Vice President Jusuf Kalla here Wednesday.

She did not elaborate further on the nominal loss, but the estimation is the first phase assessment by the World Bank to support the rehabilitation and reconstruction efforts made by the Indonesian government in disaster-affected areas.

The loss assessment was carried out using an open-loss modeling method developed by the WB team of Disaster Risk and Resilience Analysis and Solutions.

The assessment aims to provide information about the reconstruction planning process by looking at the distribution of damage across key sectors based on geographical impact levels.

"We (the World Bank) are preparing funds to help Indonesia as much as it needs. So, it now depends on the Government of Indonesia. We are preparing big financing as needed," Georgieva remarked.

Meanwhile, Kalla revealed that the nominal amount of loans from WB was still being discussed. The loan, the vice president said, could be up to 35 years with a low interest rate.

"This is being discussed. There is assistance and long-term loans for 35 years," Kalla noted.

Source: ANTARA News

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