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South Asia

The Nepal Earthquakes of 2015: One Year On

Takuya Kamata's picture
Nepal Earthquakes: One Year Anniversary

One year ago today, the first in a series of massive earthquakes rocked Nepal. Nearly 9 thousand people lost their lives in the disaster. Over 20 thousand people were injured – many critically. As many as 450 aftershocks have shook the country since.

In all, the earthquakes upended the lives of 8 million Nepalis – nearly a third of the population. The devastation was wide-spread: the Government of Nepal led an extensive exercise to assess the damages and losses, which a Post Disaster Needs Assessment estimated in the order of US$7.1 billion. As it turned out, the poorest and the most vulnerable communities were hit the hardest. The government estimates that the disaster pushed nearly 1 million Nepalis back into poverty.

From private homes to public infrastructure; and farms, businesses and historical monuments – hardly anything was spared in the trail of destruction. But from the government’s own assessment, rural housing stood out as one area of greatest need, in excess of US$1.2 billion. Early on, the government estimated that over half a million homes were destroyed.
 Beneficiaries themselves are primarily responsible to reconstruct their homes. Homes will be reconstructed in their original locations unless resettlement is unavoidable

In June last year, exactly two months after the first earthquake, 56 governments and international organizations came together in Kathmandu and pledged US$4.1 billion in reconstruction assistance. The World Bank Group was among them. At the International Conference on Nepal’s Reconstruction, the Bank Group offered a financial package of up to US$500 million. 

Soon after the earthquakes, the Government of Nepal promised NRs. 200,000 (approximately US$1,900) in assistance to each family rendered homeless by the calamity. The Emergency Housing Reconstruction Program, supported by the World Bank and the governments of Japan, the United States, Switzerland and Canada, is designed to make good on that promise.

Time for South Asia to deal with fiscal weaknesses

Annette Dixon's picture
South Asia Economic Focus Spring 2016 Fading Tailwinds cover


There’s a lot of good news in the World Bank’s latest economic report on South Asia: the region is the fastest growing in the world and its limited exposure to global economic turbulence means that its near-term prospects look good. 

Solar Irrigation Pumps: A New Way of Agriculture in Bangladesh

Mehrin Ahmed Mahbub's picture
Solar Irrigation Pumps in Bangladesh
Habibur shares a content smile as he tends to his rice field. Photo Credit: World Bank


On a recent field trip to northern Bangladesh, the smiles of Habibur, a young man working in a rice field under the scotching sun caught my attention. Habibur, 28, looked content amidst the wide green vista of fields.  
I learned that his life had not been easy. His father died when Habibur was around four years old, and the family had no land. His young widowed mother started working as a day laborer to raise her only child. Habibur began working too in his mid-teens. Mother and son struggled, but they managed to save some money.  They first bought a cow, and later Habibur leased land for rice cultivation. This is a common practice in rural Bangladesh, where the yield is divided between the farmer and the owner of the land.

Make in India: Which exports can drive the next wave of growth?

Saurabh Mishra's picture
Structural transformation depends not only on how much countries export but also on what they export and with whom they trade. In my new IMF working paper with Rahul Anand and Kalpana Kochhar, we break new grounds in analyzing India’s exports by the technological content, quality, sophistication, and complexity of India’s export basket. The paper can be found here. Here are few key pieces of evidence from our paper:
 
Technological content of India’s exports   

The evolution of Indian exports has not followed a “textbook” pattern. The pattern of evolution points to a dichotomy in the Indian economy – a well integrated, technologically advanced services sector and a relatively lagging manufacturing sector. The share of service exports in total exports has grown to over 32 percent in 2013 from 28 percent in 2000. On the other hand, the share of manufacturing exports in total export has declined to 67 percent from nearly 80 percent during 1990-2013.
 
The growth in service exports has been more rapid, resulting in the share of services exports in total exports to increase rapidly over the last decade. This can be explained by technological changes. Many services do not require face-to-face interaction, and can be stored and traded digitally. These services are called modern services. Modern services are the fastest growing sector of the global economy. This is particularly evident in India, where modern services exports account for nearly 70 percent of the total commercial services exports (compared to around 35 percent in EMs) (see Figure 1). 
      
Figure 1. Rapid Growth in Modern Services from India

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