Redhotcurry - News. Economists predict Bangladesh cyclone caused $929mn loss.

The Cyclone Sidr which left a trail of death and destruction across Bangladesh, has caused a loss of more than $929 million or 65 billion taka, according to initial estimates. The Centre for Policy Dialogue (CPD) calculated the loss of paddy at $500 million or 3,500 billion taka, roads and bridges at $157 million (11 billion taka), houses at $107 million (7.5 billion taka) and loss of trees at $71.4 million or 5 billion taka.

The final figure of loss may be many times more than the initial figures after the government submits a full assessment of the situation, says Bangladesh's economic think tank the Centre for Policy Dialogue (CPD), which made the estimate on the basis of first reports. It added that the country would take years to overcome the ravages of the cyclone.

"The figures might shoot up significantly as the ministry is updating the data on a daily basis," Mustafizur Rahman, CPD executive director was quoted as saying. He said they had to depend on government data since it is almost impossible to collect it from the field with limited resources.

Abul Barakat, another economist with CPD, said the cyclone had affected more than 40 million people across the country and 10 million of them lived in the coastal zone. "It will take years to recover from the loss," he said. The southwestern Sundarbans, the world largest mangrove forest, will take at least 40 years to recover from the destruction of the cyclone.

The economists said Sidr left thousands of people economically ruined in the coastal zone. Many people do not have any means left for earning since the cyclone had ravaged the coastal belt of the country. In many cyclone hit areas, all business activities are at a complete halt, causing great economic loss, the economists said, adding that they fear it might also cause inflation and reduce the growth of gross domestic products (GDP).

Besides, resources from Dhaka have to move towards the coastal zone to tackle the immediate crisis, which will hamper economic growth, they said.

SAVE THE CHILDREN LAUNCHES EMERGENCY APPEAL
(19 November 2007)

Children's charity Save the Children has launched an emergency appeal. The aid agency lauched the appeal to help families rebuild their lives after their homes were destroyed by Cyclone Sidr. "The good news is that many people survived this disaster, compared to previous cyclones," said Save the Children's programme director in Bangladesh, Suman Sengupta.

"But the bad news is that most survivors in the coastal areas have been left with absolutely nothing. Many families have lost everything, including their homes and their crops and they are struggling to survive."

Emergency staff said that extensive preparations had saved tens of thousands of lives during the cyclone which struck on Thursday with a strength similar to the storm in 1991 that killed 140,000 people.

But while the death toll is lower, the cyclone has severely affected hundreds of thousands of people. At least 2,000 people have been killed, more than 40,000 homes have been destroyed leaving hundreds of thousands of people homeless and a million people have been left without electricity.

Gareth Owen, Save the Children's director of emergencies said: "The children who survived this cyclone have been left with nothing. We urgently need help to be able to reach them and begin to rebuild their lives. We are on the ground now but we need more money to respond to this emergency."

Save the Children was on the ground preparing for the cyclone before it hit. The agency has been operating boat-ambulances and has begun handing out life-saving supplies including food, plastic sheeting to build shelters, blankets, water containers, diarrhoea treatment and 100,000 water purification tablets.

Owen added that from the donated money:

£8 could buy a health kit containing soap and a bucket for washing, toothbrushes, basic first aid equipment and treatment for diarrhoea.

£60 could help to set up a health camp, with a doctor providing basic healthcare and medicines, in a cyclone-hit village.

£170 could pay for a school kit, providing basic school supplies for 50 children.

Donations can be made directly to the Save the Children Emergency Appeal Line on 0800 8 148 148 or online at www.savethechildren.org.uk

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