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Mexican donors team up on earthquake recovery efforts, as Carlos Slim dishes USD 100 million

Estimates of the cost of rebuilding range from about $2 billion, according to the government, to as much as $4 billion, a calculation by investment bank Nomura.

Mexican donors team up on earthquake recovery efforts, as Carlos Slim dishes USD 100 million

Estimates of the cost of rebuilding range from about $2 billion, according to the government, to as much as $4 billion, a calculation by investment bank Nomura.

15 October 2017 Sunday 12:59
Mexican donors team up on earthquake recovery efforts, as Carlos Slim dishes USD 100 million

By Azania Post Reporter

MORE than 210,000 donors have taken part in the efforts to support Mexico to recover from two large earthquakes, the World’s business mogul Carlos Slim has said.

Slim told members of Media recently that his foundation will donate more than USD 105million to help the country in the recovery programme.

According to him, the Carlos Slim Foundation also collected more than $21 million (Tshs. 44.6 billion) from outside donors, raising the total contribution to more than $126 million (Tshs. 380 billion).

Mid last month, central Mexico was struck by an earthquake that measured 7.1 on the U.S. Geological Survey scale, level ling dozens of buildings and killing at least 369 people, making it the deadliest temblor in a generation. The earthquake came less than two weeks after an 8.1 quake struck southern Mexico, killing at least 98 people.

Estimates of the cost of rebuilding range from about $2 billion (Tshs. 4.47 trillion), according to the government, to as much as $4 billion (Tshs. 8.94 trillion), a calculation by investment bank Nomura.

Slim said the group will focus its efforts on rebuilding schools, reinforcing historic buildings and assisting hospitals. He voiced optimism about the effects the reconstruction efforts could have for the Mexican economy.

“I think it will be a very good factor, a big factor of employment in all of the affected zones,” he said.

America Movil, Latin America’s largest telecommunications firm by number of subscribers, is the crown jewel of Slim’s empire, which also includes retailer Grupo Sanborns and commercial banking company Grupo Inbursa.

Reuters

Updated: 15.10.2017 13:32
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