The World Bank on Friday announced that it was scaling up support fund for countries hit by recent cyclone Idai to $700 million.
The World Bank has estimated that countries affected by tropical storms this year will need over $2 billion to recover.
Three Southern African nations, namely Mozambique, Malawi and Zimbabwe were battered by the cyclone which killed thousands and destroyed many infrastructure.
Many communities were also cut off, with rebuilding still ongoing and humanitarian assistance still needed.
The bank is rolling out the International Development Association (IDA) Crisis Response Window (CRW) to provide up to $545 million in total for the three countries.
The bank said “This is in addition to nearly $150 million in resources that have recently been made available from existing projects. Together, total World Bank support to the three countries’ recovery reaches around $700 million,”.
Mozambique, the hardest hit by cyclone Idai is to receive $350 million. Malawi would get $120 million in financing, $75 million is to be given to support Zimbabwe.
New World Bank President David Malpass touring parts of Africa to assess the damage caused by another Cylcone called Kenneth.
Cyclone Kenneth has battered Comoros and Mozambique with the United Nations already announcing $13 million in emergency funds to help provide food and water as well as repair damaged infrastructure.