The Planning Commission will soon set up a core group to coordinate relief work in areas affected by the December 26 tsunami disaster that left over 10,000 people dead and damaged property worth $ 1.5 billion.

This follows directions from Prime Minister Manmohan Singh [Images] asking the Planning Commission to get involved in the reconstruction effort, official sources said.

Also see: Tsunami -- The waves of destruction

The group, expected to be in place by next week, would also look into the issue of financial aid from the World Bank and the Asia Development Bank [Get Quote], they said.

The government has sought the help of the two multi-lateral agencies for developing disaster prevention and management systems for the country.

Planning Commission Deputy Chairman Montek Singh Ahluwalia earlier this week had said the plan panel will give highest priority to long-term reconstruction measures for the tsunami devastated areas.

The country should have in place a mechanism for relief and earliest possible reconstruction, he had said.