The World Bank is a vital source of financial and technical assistance to developing countries around the world. We are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. The World Bank Group comprises five institutions managed by their member countries.
Established in 1944, the World Bank Group is headquartered in Washington, D.C. We have more than 10,000 employees in more than 120 offices worldwide.
Usually the first questions after a disaster are “How many people are affected?” and “What’s the damage?” We want to know the hard numbers on how many people were affected and the potential impact on the economy – difficult information to ascertain in the chaotic aftermath of a disaster. Understanding the situation on the ground takes coordination, data, and time – exactly what you’re often missing during a disaster. Using catastrophe risk models before a disaster occurs can improve coordination, provide critical data, and be done without time constraints.
The work presented in this brief report, estimates the losses related to Cyclone Enawo to be over USD 400 million, corresponding to about 4% of annual GDP. With this amount of losses, the Government of Madagascar is likely to need increased post-disaster financing from development partners to cover some of its reconstruction and recovery needs.
Economic and Social Impact of Disasters and Climate Risks in South Asia
SUBMITTED BY SHANIKA HETTIGE ON THU, 07/13/2017
CO-AUTHORS: SHOKO TAKEMOTO, ROBERT LUCAS
For many countries, damages and losses related to transport are a significant proportion of the economic impacts of disasters, often more than destruction to housing and agricult+ure in value terms. For example, a fiscal disaster risk assessment in Sri Lanka highlighted that over 1/3 of all damages and losses over the past 15 years were to the transport network. In addition, climate change increases the damages and losses.