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Preliminary Estimates of Losses and Financing Needs (Table 1)

 

Table 1: Estimated Losses and Financing Needs

(in US$ million)

Sector

Losses

Cost of reconstruction (2)

Direct losses

Indirect losses

  (1)

Total losses

Needs for next six months

Medium terms needs

(3)

Total costs

Public financing needs

(4)

Education

15.5

 

15.5

8.4

12.7

21.1

21.1

Health

5.6

 

5.6

4.9

7.3

12.2

12.2

Housing

64.8

 

64.8

22.2

51.8

74.0

74.0

Water and sanitation

13.1

 

13.1

18.4

27.2

45.6

45.6

Tourism

100.0

130.0

230.0

10.0

90.0

100.0

Fisheries

13.2

11.9

25.1

5.8

8.3

14.1

14.1

Agriculture

10.8

0.3

11.1

4.8

6.3

11.1

11.1

Transport

20.3

 

20.3

2.0

25.0

27.0

24.9

Power

4.6

 

4.6

1.9

2.8

4.6

4.6

Livelihoods

 

30.0

30.0

17.4

 

17.4

17.4

Environment

 

 

 

3.7

6.1

9.8

9.8

Disaster risk management

 

 

 

0.7

3.7

4.4

4.4

Other costs for new host islands (5)

 

 

 

5.0

10.0

15.0

15.0

Administration etc. (5)

50.0

 

50.0

15.0

35.0

50.0

50.0

 

 

 

 

 

 

 

 

Total

297.9

172.2

470.1

120.1

286.2

406.3

304.2

Losses / costs as percent of GDP (2004 est.)

62%

 

54%

40%

Estimated revenue loss (5)

60.0

Total financing gap including revenue loss

364.2

Total financing gap including revenue loss as percent of GDP

48%

Notes:

(1) Indirect loss estimates particularly in tourism and livelihoods are not robust.

(2) Reconstruction costs in some sectors are higher than damages because (a) some partially damaged houses will need to be fully rebuilt because the original islands are not livable anymore; and (b) new environmental standards apply to new facilities.

(3) Medium term covers the period from 6 to 36 months.

(4) Public financing needs differ from reconstruction costs because certain losses may be covered by insurance and financial resources available to owners.

(5) Preliminary estimates.

Source: These estimates were arrived at jointly by the Mission and the Government.




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