The World Bank today announced an additional 100 million dollars in emergency grant fund to Haiti for recovery and reconstruction efforts. The Caribbean nation was rocked by a devastating earthquake on Tuesday.<br/><br/>World Bank President Robert B Zoellick said in Washington that they are mobilising significant financial assistance and sending a team to help assess damage and reconstruction needs. Besides new initiatives, the World Bank may use its existing projects in Haiti, including education and community-driven development for quick and effective relief.<br/><br/>The World Bank is also planning to provide seed resources to establish the Haiti Reconstruction Fund, a multi-donor trust, to mobilise international support for reconstruction process, it said. Earlier in the day, the International Monetary Fund said it is ready to assist Haiti.<br/><br/>Several countries have dispatched their rescue teams to Haiti to begin the search operations for those who are still buried under the rubble of collapsed buildings following a devastating quake.<br/><br/>The United Nations Peacekeeping Mission in Haiti (MINUSTAH) has appealed for immediate assistance and the UN in New York will issue a flash appeal for aid in the coming days.<br/><br/>UN peacekeeping Chief Alain Le Roy said the Chinese team will reach the Caribbean country shortly.<br/><br/>The top UN official on humanitarian affairs John Holmes told journalists that two US teams were also expected to reach the country in a few hours.<br/><br/>Other countries, including France, Iceland and Dominican Republic are also sending their help and rescue teams.<br/><br/>More than One Lakh people are feared dead in Haiti after a calamitous earthquake razed homes, hotels, and hospitals, leaving the capital Port-Au-Prince in ruins and bodies strewn in the streets. Schools collapsed, trapping the dead inside, and the cries of desperate victims escaped from flattened buildings which an AFP correspondent said was mostly destroyed. <br/><br/>A massive aid operation swung into action, with rescue teams set to fly in from across the globe to try to pull victims from the debris, bringing desperately-needed medicines and food, as a humanitarian crisis unfolded. Casualty figures are impossible to calculate, but Prime Minister Jean-Max Bellerive told CNN the final death toll from the quake measuring 7 on Richter scale could be well over a lakh. President Rene Preval told the Miami Herald that Parliament, the tax office, Schools and Hospitals have collapsed. With thousands of people missing, dazed survivors in torn clothes wandered through the rubble as more than 30 aftershocks rocked the ramshackle capital, where more than two million people live, most in extreme poverty. <br/><br/>A second long night in the open beckoned for tens of thousands of people with nowhere to sleep, and no tools but their bare hands to try to rescue trapped compatriots. Fanning safety fears in the crime-hit capital, the United Nations said the main prison had collapsed, allowing some inmates to flee into a city where basic services and communications were shut down. <br/><br/>The earthquake is the latest tragedy to hammer Haiti, which has been scarred by years of unrest, crime and political tumult. The quake late Tuesday struck just below the earth's surface on a notorious fault line, meaning the shock was intense and damage severe, scientists said. With Haitian hospitals also having crumbled in the fury of the quake, medical services were struggling to cope with the flow of wounded. The massive quake toppled the cupola on the gleaming white presidential palace, a major hotel where 200 tourists were missing and the headquarters of the UN mission in Haiti. US President Barack Obama vowed a swift and aggressive effort to save lives and said search and rescue teams would arrive within hours after a heart wrenching earthquake. <br/><br/>All Indians in Haiti are reportedly safe.