Damage from floods estimated in excess of EC$350 million
January 21, 2014

Damage from floods estimated in excess of EC$350 million

Preliminary estimates put the damage caused by floods on December 24 and 25, 2013 to be in excess of 18 per cent of St Vincent and the Grenadines’ gross domestic product.{{more}}

This was revealed by Prime Minister Dr Ralph Gonsalves last Thursday.

Gonsalves, speaking at a press conference, said Vincentian assessors have recorded the preliminary estimate of damage to be in excess of EC$350 million, which he said corresponds to the preliminary estimate of EC$353 million, given by World Bank experts, who visited the country last week.

“In short, a damage in excess of 18 per cent of gross domestic product. This is extraordinary damage,” the Prime Minister said.

He added that these numbers did not properly account for the forests and one or two other areas.

While the bulk of damage was caused to roads, bridges and river defences, Gonsalves also highlighted the cost of damage and loss in other sectors.

“The Food and Agricultural Organization, which had their experts on the ground, show that the agricultural sector, which includes livestock and forestry, to be in excess of EC$32 million, with 24 million being damage and loss in the forest,” he said.

“The damage and loss to the water authority was in excess of EC$20 million. In the case of VINLEC, a number in excess of EC$15 million.”

In the case of housing, the Prime Minister noted that the damage and loss approximates to over EC$20 million. However, he pointed out that this does not account for relocation.

“It is speaking towards the question of damage and putting right at the spot where they are, save and except for one or two obvious cases where they have been completely destroyed and need to be moved right away,” Gonsalves said.(BK)