Event Summary
Organization: World Bank and GFDRR
Description
Date: Monday, May 14, 10:00am – 11:30am
Room: C1
Rapid post-disaster damage assessment approaches and tools can estimate physical damage to man-made assets and consequent costs within a short period of time. Early knowledge on the likely economic damage and related losses, is critical not only for governments but also for the re/insurance industry.
The session would launch a report on the Global RApid-post-disaster Damage Estimation (GRADE) approach developed by the World Bank, which is able to provide an initial rapid (within two weeks) estimation of the physical post-disaster damage in terms of economic damage incurred. The session would present experience of the approach from field and highlight some of the outputs of GRADE that include a) aggregated direct and indirect damage estimations by economic sector, b) potential impacts on gross domestic product (GDP) and the economy, and c) estimations of human casualties (in the case of earthquakes). The approach is increasingly and consistently being highlighted as an integral tool in rapid post-disaster response. The report has also been independently reviewed by the United Nations Development Program and the private sector.