The World Bank said Wednesday it will provide an additional US$100 million in emergency grant funding to support recovery and reconstruction in Haiti in response to a magnitude-7.0 earthquake that caused extensive damage and casualties in the Caribbean nation on Tuesday.

"This is a shocking event and it is crucial that the international community supports the Haitian people at this critical time," a World Bank press release quoted bank group President Robert B. Zoellick as saying.

"The World Bank is mobilizing significant financial assistance and sending a team to help assess damage and reconstruction needs. Our thoughts are with the people of Haiti, our staff, and our UN colleagues," the release said.

The new US$100-million emergency funding is subject to approval by the World Bank's Board of Directors, the release added.

(Xinhua News Agency January 14, 2010)