Announcement of World Bank Acts to Assist Ecuador After Earthquakes on March 10, 1987

FOR IMMEDIATE RELEASE World Bank 1818 H Street, N.\V. Washington.DC 2043 3 USA.• Telephone: (2021 477-1234 BANK NEWS RELEASE NO. 87/Sl4 Contact: Ciro Gamarra (202) 477-5320 WORLD BANK ACTS TO ASSIST ECUADOR AFTER EARTHQUAKES WASHINGTON, March 10 -- World Bank President Barber B. Conable, reacting to the serious situation in Ecuador following the recent earthquakes, today telephoned Ecuadorian President Leon Febres Cordero to inform him that he was immediately sending a high-level World Bank mission to the country. The mission will assess the damage caused by the earthquakes and initiate actions to assist the Government in its reconstruction efforts. The earthquakes are reported to have caused several hundred deaths and extensive damage in rural areas. They have also destroyed segments of the country's main oil pipeline, thereby interrupting production of the country's major export. The World Bank is closely ~oordinating with other major donors, including the Inter-American Development Bank and the U.S. Agency for International Development, a broad program of reconstruction assistance. Although the World Bank is not itself equipped to provide emergency relief-type assistance to the country, it is considering an early redirection of funds from existing projects and the provision of a separate reconstruction loan. - 0 -