World Bank Allocates $12 Million to Vanuatu

The World Bank has allocated US$12 million for emergency response and recovery efforts in Vanuatu after a 7.3 magnitude earthquake struck on December 17, resulting in at least 14 fatalities and significant infrastructure damage. This funding comes through the Rapid Response Option (RRO), which allows for swift access to financing for crises, and is crucial as the government assesses the extensive damage, particularly in the capital Port Vila, now closed to the public. World Bank officials, including Country Director Stephen N. Ndegwa, have expressed hope that this assistance will aid in the rapid recovery and job restoration for those affected. Over 210 injuries have been reported, emphasizing the urgent need for humanitarian support. The earthquake's timing during peak tourism season raises concerns about the broader economic impact on Vanuatu. The World Bank is also conducting a Global Rapid post-disaster Damage Estimation to further assess the economic ramifications of the disaster.