World Bank Statement on Hurricane Ivan

Lee Morrison (202) 458-8741

Lmorrison1@worldbank.org

Hurricane Ivan, one of the worst hurricanes to hit the Caribbean region in the past decade has left thousands homeless and decimated the infrastructure of a number of countries, most acutely Grenada, Jamaica and Saint Vincent and the Grenadines. As the situation evolves, the tragic scale of the damage inflicted by the hurricane is becoming clearer.

World Bank President James Wolfensohn expressed his deepest sympathy to the governments and the people of the Caribbean region affected by Hurricane Ivan for the tragic loss of lives and damage to property. Wolfensohn said the Bank was actively engaged with the authorities of each of the affected countries in providing both financial and technical support to their emergency operations.  "Our disaster management staff arrived in the affected countries immediately in the hurricane's wake, and will continue to work around the clock until we have a full picture of what needs to be done."

Under the Organization of Eastern Caribbean States (OECS) Emergency Disaster Management Program supported by the World Bank, a contingency fund of up to US$10mn for emergency assistance may be activated for the subregion, and staff are reviewing the existing portfolio of projects in Saint Vincent, Grenada and Jamaica for possible reconfiguration and reallocation of funds to address emergency reconstruction.

Mr. Wolfensohn added, "In both the Eastern Caribbean and Jamaica, our staff have been on the ground, working closely with local authorities and the donor community to ensure that our response is swift, coordinated and targeted to those areas requiring immediate attention, particularly in the social sectors.  Working with other development partners, including the IMF and UN agencies, our goal is to put the affected countries back on their feet as fast as possible."