Santiago, March 13 (IANS) Chilean President Sebastian Pinera has said property worth $30 billion damaged in the 8.8-magnitude quake in the country last month, Xinhua reported.

‘The property losses caused by the earthquake and (the ensuing) tsunami are estimated at $30 billion,’ Pinera said at a press conference Friday.

The Feb 27 earthquake damaged houses, hospitals, schools and other infrastructure.

Pinera said a readjustment has been made in the country’s annual budget after these events.

‘We will use some international credits because Chile has a very low external debt,’ he noted.

He announced the creation of a fund for the country’s reconstruction.

Pinera was sworn into office Thursday.