flood damage to serbia bosnia around €3bn
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Flood damage to Serbia, Bosnia around €3bn

Arab Today, arab today

Arab Today, arab today Flood damage to Serbia, Bosnia around €3bn

Surviving cattle look for a dry spot among cars and tractors near a flooded farm
Belgrade - AFP

The European Bank for Reconstruction and Development (EBRD) estimated Thursday that the damage from record floods in Serbia and Bosnia could cost some 3 billion euros ($4 billion).
"No official estimates as to the cost of this natural disaster are available as yet. However, some very rough preliminary estimates put the damage at around €1.5-2 billion in Serbia, and about €1.3 billion in Bosnia and Herzegovina," the EBRD said in a statement.
Particularly badly affected is the agriculture sector as most of the arable land in flooded areas has been destroyed and the damage in both countries could be hundreds of millions euros, the EBRD said. The sector makes up 10 percent of Serbia's gross domestic product (GDP) and six percent of Bosnia's.
Damage to the energy sector is also likely to be costly, in particularly in Serbia where the largest mining complex Kolubara, crucial for the country's energy system, has been flooded.
In addition, roads, railways, water supply and energy transmission infrastructure have also been badly hit, which could affect businesses across the region, the EBRD said.
"The floods could also have a sizeable macro-economic impact on Serbia and Bosnia, affecting short-term growth and inflation as well as their policy priorities and the budget for this year," the EBRD said.
Current EBRD growth forecasts for 2014 are 1.8 percent for Bosnia and 1.0 percent for Serbia and they may well need to be revised further downwards, the EBRD said.
However, both countries could count on significant international aid, the bank said, pointing out that "the EBRD has already described responding to the crisis as one of its major priorities and aims to reallocate existing funding in the region to help finance food relief".
The EBRD said it would place a priority on the rehabilitation of damaged roads and water systems as well as power stations and transmission and distribution networks.
Earlier this week the EU allocated 65 million euros to Serbia and Bosnia to help them cope with the consequences of the worst floods in a century that, along with Croatia, affected around two million people, claimed 77 lives and forced tens of thousands to leave homes.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

flood damage to serbia bosnia around €3bn flood damage to serbia bosnia around €3bn

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

flood damage to serbia bosnia around €3bn flood damage to serbia bosnia around €3bn

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday