5 Apr 2005

Asian Development Bank gives estimate of cyclone recovery for Cook Islands sectors

9:43 am on 5 April 2005

The Asian Development Bank reckons a cyclone-recovery programme for the Cook Islands government, community and privately-owned properties will cost about US$7.5 million.

The Cook Islands News reports estimates were included in the recently released budget policy statement for 2005-6.

For the recovery programme the ADB is expected to provide a concessionary loan of around US$2.6 million, aid donors are expected to contribute US$1.2 million whilst the government's budget may provide around US$700,000.

The finance minister Sir Geoffrey Henry said last month that the reconstruction costs for the cyclone damage could total around US$25 million.