News

Extreme heat is costing South Asia nearly the equivalent of 31 million full-time jobs every year and is on track to reduce the region's economy by nearly 7 percent by 2050, according to a new World Bank report released today. As South Asia prepares to add 280 million working-age people by 2050, rising temperatures are one of the greatest threats to jobs, productivity, and long-term economic growth in the region.

A Livable Future: Protecting Jobs and Growth from Extreme Heat in South Asia's Cities finds that by 2070, around 520 million people across South Asia could experience at least one month of dangerous heat each year, four times as many as today. Extreme heat is already reducing labor productivity, disrupting businesses, and jeopardizing the competitiveness of South Asia's cities. It is also putting growing pressure on health systems and critical infrastructure, while hitting low-income households, informal workers, women, the elderly, and children the hardest.

The World Bank Group estimates that the June 24 earthquakes caused $19.6 billion in direct physical damage, underscoring the importance of timely reconstruction for Venezuela's economic recovery. The findings come from a Global Rapid Damage Estimation (GRADE), which provides an early assessment to help the Government of Venezuela and development partners understand the scale of the task of rebuilding, and prioritize recovery and reconstruction efforts, as the country navigates one of the most significant disasters in its recent history. Read the GRADE here. 

El Grupo Banco Mundial estima que los terremotos del 24 de junio causaron 19.600 millones de dólares en daños físicos directos, lo que subraya la importancia de una reconstrucción oportuna para la recuperación económica de Venezuela. Los resultados provienen de una Estimación Global Rápida de Daños (GRADE, por sus siglas en inglés), que ofrece una evaluación temprana para ayudar al Gobierno de Venezuela y a los socios de desarrollo a comprender la magnitud de la tarea de reconstrucción y a priorizar los esfuerzos de recuperación, mientras el país atraviesa uno de los desastres más significativos de su historia reciente.

GFDRR is proud to support the recent preparation of a new project to support Santa Catarina in reducing the risk of devastating floods and strengthening the state's capacity to manage weather-related disasters. Financed by the World Bank Group, the project will benefit approximately 420,000 people across 54 municipalities by supporting:

• Flood mitigation infrastructure, including river improvement works and dam construction
• Expansion of early warning systems to ensure faster, better-coordinated responses to extreme weather
• Tools designed to incorporate nature-based solutions alongside traditional flood control measures

A GFDRR and World Bank Group (WBG) delegation visited Saint-Louis, Senegal to discuss the city's climate and development challenges with local authorities. Organized by the Municipal Development Agency (ADM), the visit also provided the delegation with an opportunity to take stock of the results from the Saint-Louis Emergency Recovery and Resilience Project (SERRP). The delegation included Lorenzo Carrera, a Lead Disaster Risk Management Specialist for WBG based in Senegal.

As documented in a recent immersive story, SERRP, which was supported by GFDRR, has helped families to relocate out of high-risk zones, thus reducing their exposure to coastal flooding.  The project has supported the emergency relocation of 2,331 people into temporary housing, as well as the planning and construction of long-term housing, community infrastructure, and livelihood restoration programs. Beyond SERRP, GFDRR’s support in this part of Senegal has also funded studies that identified risk reduction options for Saint-Louis over the long-term. For instance, a GFDRR grant funded analyses identified coastal flood risk reduction options, including tree planting, beach nourishment, and a coastal protection infrastructure.