CPD estimates Tk 14,421cr flood losses in eastern Bangladesh

The recent flood in the eastern part of the country caused an estimated loss of around Taka 14,421.46 crore tantamount to around US$1.20 billion, a Centre for Policy Dialogue (CPD) study said on Sunday.

The private think tank presented the study report on "Recent Flood Damage and Rehabilitation Process in Eastern Region: CPD's Analysis" at a media briefing at its office in Dhaka.

CPD Executive Director Dr Fahmida Khatun and Research Director Khondaker Golam Moazzem, among others, spoke as its Research Fellow Muntaseer Kamal delivered a presentation on the study.

Kamal highlighted that the damage made by the flood is 1.81 per cent of the national budget for fiscal year (FY) 2024-25 as in terms of GDP, it accounts for 0.29 per cent of 24 FY's provisional GDP and 0.26 per cent of the projected GDP for FY25, he added.

He mentioned that the floods, which began on August 19, 2024, were caused by continuous heavy rainfall and upstream water flows, affecting 11 districts in the region.

CPD's damage assessment was based on Sylhet, Moulvibazar, Habiganj, Feni, Khagrachhari, Cox's Bazar, Cumilla, Noakhali, Chattogram, Lakshmipur, and Brahmanbaria.

Noakhali, Cumilla, and Feni districts were worst affected by the flood, Kamal said.

He also said that the agriculture and forestry sectors were badly damaged, causing a loss of Tk 5,169.71 crore, or 35.85 per cent of the total damage.

The infrastructure sector saw a loss of Tk 4,653.92 crore (32.27 per cent), while the housing sector incurred damages of Tk 2,407.31 crore (16.69 per cent), he added.

He also said Noakhali experienced the highest monetary losses, accounting for 29.07 per cent of the total damage, followed by Cumilla (23.51 per cent), Feni (18.61 per cent), and Chattogram (11.63 per cent).

Kamal, however, said that the government should increase the budget allocation for relief distribution, especially considering that the frequency and intensity of floods and cyclones are projected to increase.

Social safety net allocations, particularly those for old age citizens, widows and destitute women, can be increased after careful assessment to subside the impact of flood in affected areas, he added.

He said the government needs to ensure easy access to agricultural loans for farmers.

A significant number of small businesses have been affected many of which have taken loans from microfinance organisations, he added.

Given the current scenario, Kamal said a moratorium on loan repayment and expansion of the repayment period could be considered.

He said seed beds have gone through considerable damages owing to the flood. So, an adequate supply of seeds will have to be ensured so that next season's Aman cultivation is not hampered, he added.

Kamal emphasized effective coordination among various stakeholders for rapid emergency response before and during the flood period.

Coordination between the Meteorological Department, Flood Forecasting and Warning Centre, Ministry of Disaster Management and Relief (MoDMR), and local government units such as Union Parishad needs to be strengthened, he continued.