WASHINGTON, Jan. 13 (Xinhua) -- In response to the magnitude-7.0 earthquake that caused extensive damage and casualties in Haiti, the World Bank said on Wednesday it will provide an additional 100 million dollars in emergency grant funding to support recovery and reconstruction in the Caribbean nation.

A Haitian soldier looks at the badly damaged presidential palace after an earthquake in Port-au-Prince January 13, 2010. A major earthquake rocked Haiti, killing possibly thousands of people as it toppled the presidential palace and hillside shanties alike and left the Caribbean nation appealing for international help.(Xinhua/Reuters Photo)
Photo Gallery>>>

"This is a shocking event and it is crucial that the international community supports the Haitian people at this critical time," said World Bank President Robert B. Zoellick.

"The World Bank is mobilizing significant financial assistance and sending a team to help assess damage and reconstruction needs. Our thoughts are with the people of Haiti, our staff, and our UN colleagues," he said.

In addition to new initiatives, the World Bank expects to utilize the capacity of existing projects, including those that focus on education and community-driven development, to provide assistance quickly and effectively.

The World Bank is sending experts to work with the Haitian government and its international partners to assess needs and losses and plan for recovery and reconstruction.

The Global Facility for Disaster Reduction and Recovery (GFDRR) has allocated 250,000 dollars for this assessment. The International Finance Corporation (IFC), the World Bank Group's private sector arm, stands ready to work with the private sector on reconstruction and is contacting its clients in Haiti to identify ways it can work with them to play a role in the reconstruction effort.

Going forward, the World Bank plans to provide seed resources to establish a multi-donor trust fund, the Haiti Reconstruction Fund, to mobilize international support for recovery and reconstruction process.

The new 100 million dollar funding is subject to approval by the World Bank's Board of Directors.

Photo taken on Jan. 13 shows houses knocked down by the earthquake in Port-au-Prince, Haiti.(Xinhua/Reuters Photo)
Photo Gallery>>>

There are currently 14 main World Bank projects active in Haiti in areas including disaster risk management, infrastructure, community-driven development, education, and economic governance. All current World Bank assistance to Haiti is in grant form.

Since January 2005, the International Development Association (IDA), the World Bank arm that provides interest-free credits and grants to the world's poorest countries, has provided a total of 308 million dollars for Haiti. In addition, trust funds administered by the World Bank have given more than 55 million dollars since 2003.



World Bank expresses strong support for Haiti following earthquake

  WASHINGTON, Jan. 13 (Xinhua) -- After a magnitude-7.0 earthquake caused extensive damage and casualties in Haiti on Tuesday, World Bank President Robert Zoellick expressed profound sympathy for those affected and said that the institution is already mobilizing its resources to help the country respond to the catastrophe.

  "This is a shocking event and our thoughts are with the Haitian people at this terrible time," said Zoellick in a statement released on Wednesday morning.

16 UN staffers confirmed dead in Haiti: Ban

  UNITED NATIONS, Jan. 13 (Xinhua) -- UN Secretary-General Ban Ki-moon said here Wednesday that 16 UN staffers were confirmed dead in Haiti in the wake of Tuesday's devastating earthquake.