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World Bank gives $400 mn for quake-relief

The World Bank said on Friday it had given $400 million to India to help rebuild its earthquake-hit state of Gujarat.

"This financial assistance package has been established by reallocating funds from 12 existing World Bank-financed projects," a World Bank statement said.

All the 12 projects are located in India, a World Bank official said.

The statement said the funds would be used to meet the state's housing, education and infrastructure needs in the wake of January's massive earthquake which killed more than 30,000 people and left tens of thousands homeless.

It said the World Bank was also working on a second phase of aid for relief and reconstruction work in Gujarat where the state government has pegged quake losses at around $2.16 billion.

Earlier this week, the Asian Development Bank said it would raise a $500 million emergency loan to fund reconstruction in Gujarat.

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