The World Bank estimates that more than $2 billion may be needed for the economic recovery and rebuilding infrastructure destroyed by Cyclone Idai, which struck central Mozambique on March 14, and later Zimbabwe and Malawi, APA can report on Friday.
This is the conclusion of a High-Level Meeting on Humanitarian Efforts and Recovery After Cyclone Idai, which took place Thursday in Washington, and which brought together the World Bank governors and government officials representing Malawi, Mozambique and Zimbabwe as well as international development partners including the World Bank.
Other participants include the UK Department for International Development (DFID), the Portuguese Ministry of Foreign Affairs and the UN Office for the Coordination of Humanitarian Affairs (UNOCHA).
Nearly 1,000 people were reported dead after Cyclone Idai hit parts of southern Africa and hundreds of thousands remain displaced.
The storm hit the Mozambican port city of Beira on March 14 before moving to Zimbabwe and Malawi.
"While the damage and recovery needs assessment is still ongoing, initial estimates point to$2 billion dollars in the cost of recovering infrastructure and livelihood impacts caused by Cyclone Idai in Malawi, Mozambique and Zimbabwe," says a statement from the World Bank issued at the end of the meeting
In a note dated April 4, released on Thursday via the United Nations, the World Bank estimates that direct economic losses related to the Cyclone Idai in Mozambique are expected to be between $ 656 and $ 773 million, including buildings, infrastructure and agriculture.
The Bank cautions, however, that its estimates do not include indirect losses, such as low productivity or business interruption.
To date, some 3 million people have been affected, with almost total destruction in the most desolate areas.
During the meeting, participants also discussed the importance of a well-coordinated and rapid humanitarian and development response to affected countries.
They reaffirmed their commitment to work together to improve climate resilience to infrastructure, such as schools, health centers, roads, bridges, water supply systems and energy distribution networks - particularly in areas prone to floods and cyclones.
They emphasized better management of natural resources, improvements in regional forecasting, preparedness for crises, and increased use of disaster risk financing tools.