The report, dubbed “The Cost of Adapting to Extreme Weather Events in a Changing Climate,” says monsoon floods will affect an additional 2 million people across Bangladesh in the next few years. It adds that some 17 million people currently living near coastal areas are at risk.
To mitigate the effects of future extreme weather events, the World Bank report says Bangladesh needs climate-smart policies as well as increased investments in infrastructure. These policies and investments are necessary despite the country’s already extensive efforts to protect coastal areas from climate change effects, the report notes.
Of the World Bank’s $5.7 billion estimate, some $2.4 billion is expected to be allocated for climate-proofing critical infrastructure by 2050 while the remaining $3.3 billion is to be spent on improving railways, drainage systems, roads and embankments.
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