World Bank urges cash transfers for South Asian flood victims

Shantayanan Devarajan, the World Bank’s chief economist for South Asia, believes that cash transfers would provide an answer to the woes of people affected by the South Asian monsoon floods. The victims are “losing their homes, livestock and assets,” according to Devarajan. “Cash transfers are a way of enabling these people to rebuild their lives. It also helps stimulate the markets, which might have been depressed in the wake of a disaster,” he continued. The recent disaster has killed 2,000 people and displaced millions in Bangladesh, India, Pakistan and Nepal. (Source: Flooding Creates Dire Need/Washington Post)