The government has approached World Bank and Asian Development Bank [Get Quote] for financial assistance in rebuilding areas devastated by Tsunami [Images] of December 26, which killed thousands of people and damaged property worth about $1.5 bn.

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In a joint press release on Tuesday, World Bank and Asian Development Bank said they received a request from the government for their assistance in rebuilding infrastructure, both public and private, and for rehabilitation of livelihoods.

The government also asked the two multilateral agencies for assistance in developing disaster prevention and management systems for the future, the release said.

World Bank and ADB said they will now work with the government to organise "needs assessment" and on that basis develop a programme of support for reconstruction and recovery.

"It is truly impressive to see the way India has responded in providing basic necessitities to the affected people," World Bank Country Director Michael Carter said.

"Our first priority is to ascertain the extent of damage and then work together with the government on a programme of
reconstruciton and rehabilitation to help affected people rebuid their lives," he said.

ADB Country Director Louis de Jonghe joined World Bank in praising India's initial response to this tragedy and said, "ADB stands ready to contribute to the rebuilding of infrastructure and rehabilitation of livelihoods of people in the affected states of India."