Haiti rebuilding effort could cost $11.5B over 3 years, assessment says

A "thorough analysis prepared by the Haiti government, together with the United Nations and other international organizations" estimates it will take $11.5 billion over the next three years to repair damage to Haiti after a major earthquake struck in January, the Wall Street Journal reports.

"The assessment ... is an important milestone ahead of a planned New York conference on March 31 at which donor nations are expected to announce financial aid for Haiti," according to the newspaper. "The government said its priority remained to prepare for this year's rain and hurricane season, as nearly 15% of the population of nine million lives in makeshift shelters. But looking ahead, the report said that one of the main challenges would be to build a different Haiti, a country where authorities would anticipate natural disasters, support job creation and help relieve congestion in Port-au-Prince," the newspaper writes.

The report, which will be formally released later this week, estimates that the earthquake inflicted major damage on 50 hospitals and that $294 million would be needed to repair and rebuild them over the next three years. Estimates of other damages are also detailed. The rebuilding effort is currently being discussed at a "conference in Haiti on how to incorporate the private sector," the Wall Street Journal reports (De Cordoba/Gauthier-Villars, 3/16).