US$14 billion to rebuild Haiti says IDB study

A new study by the Inter American Development Bank (IDB) says it will cost as much as US$14 billion to rebuild Haiti following last month’s powerful earthquake.



The 7.0 magnitude quake destroyed the capital Port-au-Prince and killed an estimated 230,000 people.



The IDB says the figure is nearly 100 per cent over the previous estimate of $8 billion, making the January 12 earthquake proportionately the most destructive natural disaster of modern times.



The agency says a detailed accounting of the cost of reconstruction will emerge in coming months as a full Post Disaster Needs Assessment is completed.



However,it says based on the new study the cost is likely to be larger than anticipated.