The reconstruction of Haiti will cost some 14 billion U.S. dollars, Inter-American Development Bank (IDB) said on Tuesday.

The money will be used to build houses, schools, repair streets and other damaged infrastructure in Haiti, the bank said in its latest report.

The report has taken into account techniques of simple regression, used data of other natural disasters, the death tolls, the number of inhabitants and the gross domestic product per capita.

IDB economists said the reconstruction of Haiti needs the coordination among bilateral, multilateral and private donors.

Extraordinary mechanisms will be also needed to assure the transparency of the use of the money, they added.