Finance News

13 thousand crore rupees loss per year due to floods and storms on the coast

27 percent of people in the coastal areas of Bangladesh are currently at risk of flooding. This risk of coastal flooding could increase to 35 percent this century. At present, the cost of floods in the coastal areas is about 3000 crore rupees. About 10 thousand crores worth of assets were damaged in the cyclone.

This information has emerged in a report of the World Bank published on Monday. The report titled ‘Bangladesh: Enhancing Coastal Resilience in Changing Climate’ has highlighted various risks of climate change.

According to the report, the loss of Bangladesh due to sea level rise may double in the current century.
The coastal rivers of the country are moving from 50 to 500 meters per year due to the effect of tides. Due to this, extensive erosion is occurring in coastal areas.

The report mentions that several initiatives taken by the government to protect the country’s coastal embankments from storm surges are seeing success.

According to the report, the coastal area has been spared from the flood due to river dredging and embankment protection in polder number 35/1.

At the same time, due to initiatives taken to protect Kuakata beach of Patuakhali, Himchhari, Kalatali and Inani beaches of Cox’s Bazar, erosion has stopped.

The creation of mangrove forests along 600 km of the coast protects the dams from the waves of the sea. There is no additional cost to raise the dams.
The report draws a comparison of the climate risks of 48 delta regions around the world. It can be seen that Bangladesh is in the second vulnerable state among the deltas that are at risk of coastal flooding. In this coastal area, 137 polders are infrastructurally and Sundarbans playing a role as a natural protection wall.

There are 400 species of fishes, 53 species of reptiles, 330 species of birds, 50 species of mammals in the coastal areas of the country including the Sundarbans. Many important animals like Bengal tiger, crocodile, Chitra deer are present here. The Sundarbans alone is home to 17 species of animals that are endangered around the world.

The report was co-authored by Swarna Kazi. He is a Senior Disaster Risk Management Specialist at the World Bank. He said, ‘We can learn from the past by considering the need for high investment. Can find innovative solutions.’

According to the report, by the year 2050, the population of coastal areas of the country will increase to 60 million. If the sea level rises by one meter, an area of ​​4,800 square kilometers of the coast of Bangladesh may be submerged. This may increase the loss of human life and property in the coastal areas of the country.

Bangladesh will need 5.7 billion dollars every year until 2050 to implement the adaptation plan that the Bangladesh government has planned to deal with the situation.
According to the report, there is a need for greater investment in coastal climate resilience, which will help Bangladesh’s economic, social and environmental development.

Ignacio Urushia, senior disaster risk management specialist at the World Bank and co-author of the report, said a fundamental lesson is that in the case of Bangladesh, there is great potential for nature-based solutions or hybrid solutions combining forest creation and infrastructure.

According to the report, there are about 6,000 multi-purpose shelters on the coast. 600 to 1500 people can take shelter in each center.

Fifty percent of the country’s coastal residents have shelters within two kilometers of their homes. Between them, Cox’s Bazar and Bhola are within half a kilometer. And there are shelters within four kilometers in Noakhali, Barisal and Noakhali. By 2025, the number of these shelters should be increased to seven thousand.
According to the report, only 20 percent of people on the coast live in decent housing. Among them, the least number of people live in better houses in Barguna, 7 percent. And most of the good houses live in Khulna, 42 percent.

The livelihood of the coastal people of the country is mainly based on crop cultivation and fishing. There are very few industries. In 15 of the 19 coastal districts, the average income of residents is lower than the national average.