Reconstruction and recovery needs following the catastrophic flooding in eastern Libya last September are estimated at $1.8 billion, according to a new report released today by the World Bank, the United Nations, and the European Union. The Libya Rapid Damage and Needs Assessment (RDNA) analyses damages and losses – as well as recovery and reconstruction needs – using a globally established methodology across almost all sectors of the Libyan economy. The report estimates 70 per cent of the needed reconstruction costs would be for infrastructure, with housing the largest component. In addition to outlining the recovery and reconstruction needs, the RDNA analyses the cost of physical damages caused by the flooding and the economic losses in its aftermath. The $1.65 billion total of damages and losses account for 3.6 per cent of Libya’s GDP in 2022.

Source: Libya Today January 24, 2024 19:25 UTC