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Malaysia launches the world’s first green Islamic bond

Faris Hadad-Zervos's picture
The green sukuk, or Islamic bond, is a big step forward to fill gaps in green financing. Proceeds are used to fund environmentally sustainable infrastructure projects such as solar farms in Malaysia.
Photo: Aisyaqilumar/bigstock

Bangladesh: Building resilience in the eye of the storm (Part 3/3)

Sameh Wahba's picture


This is the third of a three-part series, Resilience in the of the Eye of the Storm, on how Bangladesh has become a leader in coastal resilience.
 
Over the years, Bangladesh has taken major strides to reduce the vulnerability of its people to disasters and climate change. And today, the country is at the forefront in managing disaster risks and building coastal resilience.
 
Let’s compare the impact of the Bhola Cyclone of 1970 to the far stronger Cyclone Sidr in 2007. The 1970 cyclone was then the deadliest in Bangladesh’s history, and one of the 10 deadliest natural disasters on record. Official documents indicate that over 300,000 lives were lost, and many believe the actual numbers could be far higher. 
 
By contrast, Sidr was the strongest cyclone to ever make landfall in Bangladesh. This time, fewer than 3,500 people lost their lives. While tragic, this represents about 1% of the lives lost in 1970 or 3% of the nearly 140,000 lost lives in the 1991 cyclone.
 
The cyclones of 1970 and 1991 were unprecedented in scale. Yet, they steered the country into action.

Why mangroves matter for the resilience of coastal communities

Saurabh Dani's picture

In 2006, I was working in Aceh, Indonesia (with the Red Cross), a region devastated by the 2004 Indian Ocean tsunami. Amongst other post-disaster recovery activities, we were working with 20 coastal communities, helping them with community-managed small grants and encouraging them to invest in disaster resilience within their communities.
 
To my delight, all 20 communities, independently, chose to invest in the restoration of their mangroves that had been completely or partially destroyed by the tsunami. To them, losing their mangroves was like losing their ancestors: Mangroves defended them, provided them with food and a livelihood, and made their coastline beautiful. The mangroves were their pride, and reclaiming the mangroves was of the highest priority for them as a community.

Why should we care about mangroves? Here are a few important reasons:

To build resilient cities, we must treat substandard housing as a life-or-death emergency

Luis Triveno's picture
Also available in: Español | 中文

Resilient housing policies. © World Bank
Why resilient cities need resilient housing.  Download the full version of the slideshow here

The scene is as familiar as it is tragic: A devastating hurricane or earthquake strikes a populated area in a poor country, inflicting a high number of casualties, overwhelming the resources and capacity of rescue teams and hospital emergency rooms. First responders must resort to “triage” – the medical strategy of maximizing the efficient use of existing resources to save lives, while minimizing the number of deaths. 

But if governments could apply triage to substandard housing, medical triage would be a much less frequent occurrence – because in the developing world, it is mainly housing that kills people, not disasters.
 
From the 2017 Global Platform for Disaster Risk Reduction to the 2017 Urban Resilience Summit, practitioners and policymakers have increasingly focused their discussions on how we can boost the resilience of urban areas.

But this is a problem with a well-known solution: Resilient cities require resilient housing.

To make housing more resilient, cities need to focus on two different but complementary angles: upgrading the existing housing stock, where most the poor live, while making sure that new construction is built safe, particularly for natural disasters. After all, if floods or earthquakes do not distinguish between old and new homes, why should policymakers? It is time for resilience to become part of the definition of “decent, affordable, and safe housing.”

 

How much should Bhutan worry about debt?

Yoichiro Ishihara's picture
Bhutan hydropower
Construction of the Dagachhu Hydropower Plant in Bhutan. Photo Credit: Asian Development Bank

In many respects, Bhutan has been a development success story. Its people have benefitted from decades of sharp reductions in poverty combined with impressive improvements in health and education. The country is a global model in environmental conservation. It is the first carbon negative country; Bhutan’s forests, which cover over 70% of the country, absorb more carbon dioxide than is produced by its emissions.

The Kingdom of Happiness also must grapple with the reality of managing budgets, creating infrastructure, and preparing its citizens to be able to create and take advantage of jobs of the future. To do that, we are working with closely with Bhutan to build the foundations for a more prosperous future through the cultivation of a vibrant private sector economy and supporting green development.

At the same time, Bhutan has invested generously in hydropower energy production to create a reliable and lasting source of green energy for its people. It also benefits from exporting excess electricity to neighboring India, whose energy needs continue to increase at a rapid pace with their growing economy.

In large part due to the hydropower investments, Bhutan’s public debt was 107 percent of the Gross Domestic Product (GDP) as of March 2017. Hydropower external debt was at 77 percent of GDP with non-hydropower external debt accounting for 22 percent of GDP. Questions have arisen on whether this level of debt is sustainable and what should be done to address it.

Climate in Crisis: How Risk Information Can Build Resilience in Afghanistan

Julian Palma's picture
Photo Credit: Rumi Consultancy/ World Bank
Afghanistan is vulnerable to a number of natural hazards, including earthquakes, flooding, drought, landslides and avalanches, as well as hazards arising from human interaction. Among low income countries, Afghanistan is second only to Haiti in terms of the number of fatalities caused by natural disasters between 1980 and 2015. In the last few years, however, the Afghan Government has increasingly understood how the consequences of extreme weather events and disasters add to existing security risks. Severe and prolonged droughts, for instance, have increased food insecurity, causing on average $280 million in economic damage to agriculture each year. Natural disasters and climate-related shocks affect 59 percent of the population, concentrated in economically poorer regions, as opposed to security-related shocks (15 percent).[1]
 
The availability of disaster risk information is particularly important for a fragile state like Afghanistan where 4 out of 5 people rely on natural resources for their livelihoods.[2] To strengthen resilience, investments in Afghanistan need to incorporate information on natural hazards in their planning, design and implementation. To help support government efforts, the World Bank and the Global Facility for Disaster Reduction and Recovery (GFDRR), in close cooperation with the Afghanistan National Disaster Management Authority (ANDMA), recently produced a comprehensive multi-hazard assessment level and risk profile[3], documenting information on current and future risk from fluvial and flash floods, droughts, landslides, snow avalanches and seismic hazards. The main findings, methodology and expected outcomes were recently discussed and presented to the Disaster Risk Management community of practice within the World Bank Group. A number of takeaways from the discussion are presented below:
 
What is Afghanistan’s risk profile and vulnerability?
  • Flooding is the most frequent natural hazard historically, causing average annual damage estimated at $54 million; large flood episodes can cause over $500 million in damage
  • Historically, earthquakes have caused the most fatalities, killing more than 10,000 people since 1980
  • 3 million people are at risk from very high or high landslide hazard
  • Droughts have affected 6.5 million people since 2000; an extreme drought could cause an estimated $3 billion in agricultural losses, and lead to severe food shortages across the country;
  • An estimated 10,000 km of roads (15 percent of all roads) are exposed to avalanches, including key transport routes like the Salang Pass

Bangladesh: Building resilience in the eye of the storm (Part 2/3)

Sameh Wahba's picture

Photo: Swarna Kazi / World Bank

This is the second of a three-part series, "Resilience in the of the Eye of the Storm," on how Bangladesh has become a leader in coastal resilience.

 
With a population of 160 million, Bangladesh is situated at the epicenter of some of the deadliest cyclones the world has ever experienced. Catastrophic events are the norm rather than the exception. A severe tropical cyclone can strike every 3 years and 25% of the land floods annually.
 
The network of the mighty Ganges-Brahmaputra-Meghna rivers makes its meandering journey through the delta into the Bay of Bengal forming the coast of Bangladesh.
 
The jagged coastline of Bangladesh spans hundreds of miles and is subject to multiple challenges: 62% of the coastal land has an elevation of up to 3 meters and 83% is up to 5 meters above sea level. These low-lying areas are highly vulnerable to natural hazards.
 
Earlier this year, I got a chance to see first-hand the challenges that this demanding landscape had brought onto the communities of a remote coastal village. What struck me most when speaking to members of this coastal community was their courage and resilience. Aware that a calamity can hit anytime, they struggle to protect their livelihoods affected by saltwater intrusion, and their own lives which are increasingly at risk due to rising sea levels, and exposure to more frequent and devastating storms and cyclones.
 
By 2050, the coastal population is projected to grow to 61 million people, whose livelihoods will increasingly be at risk due to the impact of climate change.
 
Triggered by climate change, seawater inundation could become a major problem for traditional agriculture. According to the Intergovernmental Panel on Climate Change Fifth Assessment Report (2014), climate-related declines in food productivity will impact livelihoods and exports and increase poverty. In Bangladesh, it is estimated that these factors would cause a net increase in poverty of 15% by 2030.
 
To mitigate against such risks, the government has been investing in strengthening the resilience of the coastal zone. Over the years, Bangladesh has become an example of how protective coastal infrastructure, together with social mobilization and community-based early warning systems, is helping to build resilience.

Connecting on climate action and Sustainable Development Goals

Max Thabiso Edkins's picture


Global action on climate change to help achieve the Sustainable Development Goals was a key message delivered by the Italian Ministry of the Environment, Land and Sea at the United Nations High Level Political Forum in New York. All4TheGreen, the Ministry’s collaboration with the Connect4Climate program of the World Bank Group, was presented as an important case-study to encourage citizen engagement to achieve a sustainable future. All4TheGreen was a week of more than 80 events in the lead-up to the recent G7 Environment minister’s meetings in the cultural and academic hub of Bologna, Italy.

Seize the Opportunity to make Dhaka a Great, Vibrant City

Qimiao Fan's picture

The success of Dhaka, one of the megacities of the world, is critically important for the economic and social development of Bangladesh. The city's astonishing growth, from a population of 3 million in 1980 to 18 million  today, represents the promise and dreams of a better life: the hard  work and sacrifices made by all residents to seize  opportunities to lift themselves from poverty towards greater prosperity. 

 
 However, as Dhaka has grown to become one of the most densely populated cities in the world, its expansion has  been messy and uneven. Dhaka's growth has taken place without adequate planning, resulting in a city with extreme  congestion, poor liveability, and vulnerability to floods and earthquakes. Many residents, including the 3.5 million  people living in informal settlements, often lack access to basic services, infrastructure, and amenities. 
 
Unplanned and uncontrolled growth has created unprecedented congestion: the average driving speed has dropped  from 21km per hour 10 years ago to less than 7km per hour today. Continuing on current trends would result in a  further slowdown to 4km an hour — slower than the average walking speed! Congestion eats up 3.2 million working hours each day and costs the economy billions of dollars every year. Some of the most important economic benefits    from urbanisation are missed out due to this messiness, resulting in lower incomes for the city and the country.
 
These problems will not go away on their own. Dhaka's population is expected to double once again by 2035, to 35  million. Without a fundamental re-think requiring substantial planning, coordination, investments, and action, Dhaka  will never be able to deliver its full potential. Dhaka is at a crossroads in defining its future and destiny. 
 
Up to now, urban growth has mainly taken place in the northern part of Dhaka and expanded westward after the  flood of 1988, when the government built the western embankment for flood protection. This resulted in high-density  investments near the city centre, where infrastructure and social services were accessible. However, real estate investments were not coordinated with other infrastructure and transportation services. 


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