Disasters Cost Philippines $3bn Annually in Sanitation

The Philippines loses about PHP145bn ($3.2bn) a year from underinvestment in sanitation due to disasters, according to a World Bank report.

The ‘Sustaining Water for All in a Changing Climate’ report says the investment in water projects and proper water management is expected to boost the GDP of developing countries by 14%.

The report also claims that Cambodia, Indonesia, Philippines and Vietnam lose about 2% of their annual GDP from underinvestment in sanitation.

The report estimates the cost of disasters as a share of GDP is 14% in poor countries compared with 3% in rich countries, according to manilastandardtoday.com