Bangladesh incurs loss of $1b every year: WB

The country is incurring a loss of one billion dollars every year due to the cyclone that may increase further as the number of the cyclones is increasing.

Besides, Gross Domestic Production (GDP) may reduce by nine per cent.

This data was revealed in a report titled ‘Country climate and development’ by the World Bank (WB).

The WB came up with this report on Monday at an event at a hotel in the capital where climate change experts and the researchers were present.

The keynote paper was presented by World Bank's vice-president for South Asia Martin Reiser.

The report said nearly 13 million people will be displaced by 2050 due to climate change. During the timeframe, GDP in the agriculture sector could decrease by one third per cent. Bangladesh would need US Dollar 12.5 billion per year in tackling the climate-related crisis.   

It claimed environment pollution, particularly air pollution, lack of drinkable water, sanitation and health guidelines, are responsible for 32 per cent of deaths in the country.

The sea level could rise by 27 cm or higher if the temperature of the country increases by 1.5 degree Celsius coupled with the rise of rainfall by four per cent. It would result in losses in the coast worth US dollar 3 million per year, the WB report added.        

The report said climate change may wreak havoc on four regions of the country: Varendra, hill, coastal and haor. In terms of districts, the western Mymensingh, eastern Rangpur and southern Khulna are  considered as the highly risk-prone area in the climate change. 

The residents of the disaster-prone areas will have to increase their capacity in tackling the situation, the report suggested.         

Martin Reiser said Bangladesh has played a pioneering role in adaptation and disaster management. However, as the climate risk is increasing, it is imperative to boost the efforts of adaptation.