Climate change and Bangladesh economy

Climate change and Bangladesh economy
Yasmin Reema

Economy of Bangladesh faces a great challenge due to climate change. Agriculture is the main economic power of Bangladesh. While more than 60% of people depend on agriculture, a huge number of people’s livelihood is at great risk due to climate change, which greatly affects the entire economy. Every year, natural calamity causes a great economic loss to the country. It hampers developmental activities.
Dr Ainun Nishat, a water resource and climate change specialist, said, “Till now, natural calamity is available in our country.” Before we protect ourselves from one destruction, another calamity attacks. Yet, people who were sufferers from SIDR in the coastal areas could not return to normal life. In those areas, village economy could not return to its past position.
Bangladesh stands at the top position in the case of the destruction carried out by natural calamities. As a result, it becomes hard for the country to come out of the vicious poverty cycle. Fighting with the natural calamities leaves large number of people in dire poverty. These people after losing everything have to start from the beginning. Cyclone, flood, draught, river erosion, rising sea level and many other disasters have been augmented. Hence, the road construction, culverts, building educational institution and infrastructure requires a huge amount of money.
A report from World Bank mentioned that negative effect of climate change has afflicted the economy of Bangladesh which terribly affect the life and earnings of the millions of people. Therefore, a good portion of budget has to be spent on the food, health, agriculture, fish, and animal asset. These things create a dimension on the change of economy.
Md. R.E Shamim, Agriculture and Environment specialist, said that in the case of climate change and financial loss, Bangladesh is in top position. So the economy of Bangladesh will face a great challenge in future. The data prove that the economy of Bangladesh highly depends on the behaviour of the climate.
An international organisation, German Watch, reported in 2010 that Bangladesh lost 2 thousand and 189 million dollar as a result of the adverse impacts of climate change, which is about 1.81% of total national development. Total loss of the world’s 20% happened in Bangladesh from 1990 to 2009. On the other hand, an account of Asian Development Bank shows that the primary loss was about 139 billion taka. Average loss of Bangladesh is about US$4 billion due to natural calamity.
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