Analysis: Low, Middle Income Countries Have Deficits in Infrastructure, but High Risk of Destruction from Disasters
By Simrin Sirur
The year 2023 has been marked by disasters that have dented state budgets. In Sikkim, which was hit by a glacial lake outburst flood last week, damages are estimated to run into thousands of crores. The intense rainfall and flooding that swept away entire roads and buildings in Himachal Pradesh in July cost the state Rs. 10,000 crores and the land subsidence in the town of Joshimath, which began sinking early this year, has cost the Uttarakhand government over Rs. 565 crore in damages.
Infrastructure is often the first casualty when disaster strikes, apart from human lives. A new report by the Coalition for Disaster Resilient Infrastructure (CDRI) reveals that the annual average loss of buildings and infrastructure due to natural disasters and climate change is $700 billion, and that impacts are not uniform across high and low income countries.
Photo courtesy of United Nations Photo.