Date:25/11/2005 URL: http://www.thehindubusinessline.com/2005/11/25/stories/2005112502020900.htm

Back World Vision to spend $70 m to help tsunami-affected

Our Bureau

Chennai , Nov 24

WORLD Vision India, a non-governmental organisation, expects to spend around $70 million (Rs 315 crore) on various tsunami-victims rehabilitation projects in India, the NGO's National Director, Dr Jayakumar Christian, told a press conference here today.

"By December, we would have spent about Rs 131 crore," he said. Most of the money has come as contributions from abroad.

Excluding the tsunami rehabilitation projects, World Vision India will spend Rs 136 crore in various projects in India, he said.

The NGO has committed to building 6,074 permanent houses.

Part of the work is `economic recovery through micro-finance'. Today, Pfizer India Ltd announced a grant of Rs 1 crore to World Vision India, which is to be made available as micro finance loans to those affected by the tsunami.

The programme is to be conducted through World Vision India's micro-finance arm, Innovative Microfinance for Poverty Alleviation and Community Transformation (Impact), a not-for-profit company. The programme aims to benefit 1,000 economically disadvantaged persons and their families across eight villages.

Speaking at the press conference, Mr Kewal Handa, Managing Director, Pfizer India, noted that Pfizer Inc, of US, had pledged $70 million for tsunami victims in South East Asia, apart from making available resources such as doctors, volunteers and medicines.