Business

Cyclone Ditwah, which hit Sri Lanka in late November, has resulted in an estimated $4.1 billion in direct damage to buildings, agricultural areas, and vital infrastructure, according to a new report from the World Bank Group. This figure represents roughly 4 percent of Sri Lanka's GDP, as stated by the World Bank. The cyclone is noted as one of the most powerful and destructive storms in the country’s recent history, impacting nearly 2 million people and affecting 500,000 families across all 25 districts. It has disrupted livelihoods, essential services, and the overall economy. The Sri Lanka GRADE report offers important information to assist with emergency responses, recovery planning, and efforts to reduce future disaster risks. The assessment relies on the World Bank's quick, model-based GRADE method, which estimates direct economic damage to physical assets. However, it does not account for losses in income or production, nor does it cover the total costs of recovery and rebuilding. The estimated $4.1 billion in damage is a major blow to the affected areas. The Central province experienced the most significant impact, with damage in Kandy district alone estimated at $689 million, mainly due to flooding and some landslides. Infrastructure damage, including roads, bridges, railways, and water supply systems, constitutes the largest portion of the total damage at about $1.735 billion, which is 42 percent of the total. This has hindered connectivity and access to markets and services. Residential buildings and their contents have seen damages around $985 million, emphasizing the need to rethink building locations and enhance flood control measures, making them more resilient to high winds and flooding. Agricultural losses are estimated at $814 million, affecting rice and vegetable crops, subsistence farming, maize, livestock, and agricultural infrastructure, as well as inland fishing. This damage poses significant risks to food security and the livelihoods of rural communities that are already vulnerable.