Fiji's government has signed a US$50 million loan agreement with the World Bank to assist in ongoing recovery needs after Tropical Cyclone Winston.
In the same signing ceremony, an additional US$50 million loan was sealed with the Asian Development Bank, bringing the total amount to US$100 million.
A statement from the World Bank said that the loan would enhance the country's efforts to protect the most vulnerable and strengthen the country's broader, disaster-responsive objectives.
According to the Bank, the total damage and losses resulting from Cyclone Winston are estimated at US$1.38 billion, or 31 percent of Fiji's GDP.
This includes US$959 million in damage and losses to Fiji's productive, social and infrastructure sectors.
Nearly 130,000 homes were damaged or destroyed, affecting approximately 15 percent of Fiji's total population.