World Bank to lend $150 million to tsunami-hit hotels

The World Bank said on Monday its private sector arm would lend up to $150 million to hotel companies in tsunami-damaged areas of South Asia to help them rebuild their properties. The International Finance Corp loans will be aimed at established hotel and resort operators in the Maldives, Sri Lanka and Thailand, where coastal communities were devastated by a giant tidal wave that followed an underwater earthquake in late December."It will also promote the adoption of better environmental and insurance practices," Malas said.