South Asia cities face $215bn-worth flood risks

Schoolchildren wade past a waterlogged railway street in the rain in Mumbai, India, on Aug 29, 2017. (AP file photo)

NEW DELHI: As global attention focused on hurricanes Harvey and Irma, more than 41 million people across South Asia battled floods and displacement.

From Afghanistan in the west to Bangladesh in the east, floods could cost South Asia -- home to a fourth of the world’s people -- as much as $215 billion each year by 2030, according to the World Resources Institute’s global flood analyser launched in 2015. 

“Companies with operations on coasts, next to large rivers, on low-lying flood plains and in urban areas with poor drainage and sanitation are at greatest risk,” said Tom Hill, executive director, crisis and security consulting, at Control Risks in New Delhi. "More rain and extreme weather will not only hit businesses in South Asia, but also global companies that source their products and raw materials from the region."

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