$5.4b needed to recoup Sidr losses, develop disaster management plan
Tuesday, 19 February 2008
FHM Humayan Kabir
Bangladesh needs US$5.4 billion to recoup losses it suffered due to the devastating cyclone, Sidr, and develop a long-term disaster risk management programme, a final joint government-donor assessment report said.
Out of the estimated amount, US$1.4 billion will be required for early and medium-to-long term recovery and for carrying out reconstruction work in the cyclone affected coastal areas. Another $4.0 billion will be needed for the long-term disaster risk management programme.
Coordinated by the World Bank, the government and some other donors prepared a damage, loss and need assessment report and sent it to the government and other donor agencies Monday seeking comments.
The assessment report said the devastating cyclone that battered some coastal districts in mid-November had caused a total damage and losses worth $1.7 billion dollars, which is equivalent to 2.8 per cent of the country's gross domestic product (GDP).
"A comprehensive analysis undertaken by a team of government and international experts estimated the total damage and losses caused by the cyclone at Tk 115.6 billion or US$1.7 billion," the report said adding "more than two-thirds of this estimate was physical damage and one-third economic losses."
The damage and loss estimation in the final report is $100 million higher than the preliminary estimate of $1.6 billion. The World Bank in late January presented the preliminary loss estimate at a meeting in Dhaka after three-week long joint assessment.
The joint assessment was made after the government in December last year appealed for an assistance of about $2.2 billion for long term fight against natural disasters.
The cyclone Sidr packed with a wind speed of 220-kilometre per hour hit the country's southern coastal districts on November 15, leaving at least 3,406 people dead and another 1,001 missing. It also affected the livelihood of 8.7 million people.
Housing sector was the worst hit, with an estimated damage worth Tk 57.9 billion or 50 per cent of the total loss and damage, productive sectors including agriculture and fisheries Tk 33.8 billion or 30 per cent and public sector infrastructure Tk 17.5 billion or 16 per cent, the joint report said.
Some 55,000 individuals also sustained physical injuries and psychological traumas, it said.
The report said: "A total of $300 million is required for the immediate recovery and the remaining $1.075 billion for medium-to-long term recovery. Besides, a long-term plan of action would be required to achieve disaster risk reduction and management where an investment of $4.0 billion is needed."
The report proposed to implement the disaster risk management strategy over a period of 15 years up to 2022.
"Preliminary estimate indicates that overall economic growth in the country will be affected by less than 0.5 per cent," the study prepared by the government and leading donors including the World Bank said.
Bangladesh needs US$5.4 billion to recoup losses it suffered due to the devastating cyclone, Sidr, and develop a long-term disaster risk management programme, a final joint government-donor assessment report said.
Out of the estimated amount, US$1.4 billion will be required for early and medium-to-long term recovery and for carrying out reconstruction work in the cyclone affected coastal areas. Another $4.0 billion will be needed for the long-term disaster risk management programme.
Coordinated by the World Bank, the government and some other donors prepared a damage, loss and need assessment report and sent it to the government and other donor agencies Monday seeking comments.
The assessment report said the devastating cyclone that battered some coastal districts in mid-November had caused a total damage and losses worth $1.7 billion dollars, which is equivalent to 2.8 per cent of the country's gross domestic product (GDP).
"A comprehensive analysis undertaken by a team of government and international experts estimated the total damage and losses caused by the cyclone at Tk 115.6 billion or US$1.7 billion," the report said adding "more than two-thirds of this estimate was physical damage and one-third economic losses."
The damage and loss estimation in the final report is $100 million higher than the preliminary estimate of $1.6 billion. The World Bank in late January presented the preliminary loss estimate at a meeting in Dhaka after three-week long joint assessment.
The joint assessment was made after the government in December last year appealed for an assistance of about $2.2 billion for long term fight against natural disasters.
The cyclone Sidr packed with a wind speed of 220-kilometre per hour hit the country's southern coastal districts on November 15, leaving at least 3,406 people dead and another 1,001 missing. It also affected the livelihood of 8.7 million people.
Housing sector was the worst hit, with an estimated damage worth Tk 57.9 billion or 50 per cent of the total loss and damage, productive sectors including agriculture and fisheries Tk 33.8 billion or 30 per cent and public sector infrastructure Tk 17.5 billion or 16 per cent, the joint report said.
Some 55,000 individuals also sustained physical injuries and psychological traumas, it said.
The report said: "A total of $300 million is required for the immediate recovery and the remaining $1.075 billion for medium-to-long term recovery. Besides, a long-term plan of action would be required to achieve disaster risk reduction and management where an investment of $4.0 billion is needed."
The report proposed to implement the disaster risk management strategy over a period of 15 years up to 2022.
"Preliminary estimate indicates that overall economic growth in the country will be affected by less than 0.5 per cent," the study prepared by the government and leading donors including the World Bank said.