ADB urged to assess damage caused by recurrent floods

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FE Report
The government has approached the Asian Development Bank (ADB) to field an expert mission to assess the damage caused by this year's recurrent floods.
"We've already forwarded a request letter to the ADB to send a mission to carry out the damage assessment of the floods," a senior economic relations division (ERD) official said.
"The ADB's flood assessment is significant as a World Bank fact-finding mission is also doing the similar job. The World Bank and the ADB had carried out a joint assessment of 2004 floods, although this year they did not undertake such an initiative," the official added.
The Manila-based Asian lender is yet to formally respond to the request of Bangladesh.
"The idea is to verify different assessments to reach a conclusion. A prudent damage assessment is essential for the effective post-flood recovery interventions," the ERD official pointed out.
The sources, however, said although the government sought emergency flood assistance from the ADB, it did not provide the caretaker administration with necessary funds.
Officials at the Planning Commission say a study is underway to gauge the total economic losses of the flood and it can be completed after the flood waters recede.
The flood damage assessment of the Planning Commission is expected to be available sometime in October, they added.
According to provisional and incomplete figures, an estimated 11 million people have been affected by the flood, which damaged 1.0 million homes, washed away 1.1 million hectares of crop, and destroyed more than 23,000 kilometres of road.
The World Bank notes the reconstruction costs of the lost and damaged infrastructure are likely to be at least half that of the 2004 floods, implying more than US$1.0 billion.
The bank fears that emergency import needs, particularly in rice and other food items, and inputs for agriculture and construction can adversely impact the balance of payment position.
Meanwhile, the World Bank's board approved a US$75 million loan package for the floods, while it also looks to take up a flood restoration and rehabilitation project in the near future.
Different UN bodies and bilateral donors have also extended emergency assistance in response to this year's floods.