Flood In Southern Brazil Leads To $15 Billion In Losses
Date
9/23/2024 3:23:57 AM
(MENAFN- The Rio Times) The flood that affected Rio Grande do Sul in southern Brazil form May to July 2024 caused losses of R$87 ($15) billion, according to data from the Inter-American Development bank (IDB).
This event impacted cities and farmlands through flooding and destruction. IDB President Ilan Goldfajn shared this information with the Brazilian press.
The IDB worked with the World Bank and the Economic Commission for Latin America to assess the damage. Their joint report will be released soon.
Rio Grande do Sul experienced significant floods. The event affected 90% of the state's territory and impacted 2.4 million people. It resulted in 183 deaths, and 27 individuals are missing.
Goldfajn noted that the losses amount to 1.8% of Brazil's projected GDP for 2024. The IDB has allocated 4 billion reais ($727 million) for reconstruction efforts in the affected region.
Rio Grande do Sul, which borders Argentina and Uruguay, is an important area for Brazil's agribusiness and industry.
The event's impact on this economically significant region raises concerns about climate change's effects on national economies.
Goldfajn emphasized the need for continued monitoring of climate-related events. He pointed out that the situation in Rio Grande do Sul highlights the various climate challenges facing Brazil.
This event serves as a reminder of the need to address climate change. It shows how weather events can cause economic damage and human suffering.
As Brazil responds to this event, the international community observes. The upcoming report from the IDB, World Bank, and ECLAC will likely provide insights into the implications of such climate events.
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