April 11, 2019 / 11:03 AM / 14 days ago

World Bank puts Mozambique's economic losses from Cyclone Idai at up to $773 million

FILE PHOTO: A general view of houses seen from the air near Nhamatanda village, Beira, Mozambique, following Cyclone Idai, March 26, 2019. REUTERS/Siphiwe Sibeko/File Photo

JOHANNESBURG (Reuters) - The World Bank estimates the direct economic losses from Cyclone Idai in Mozambique to range from $656 million-$773 million (590.26 million pounds), covering damage to buildings, infrastructure and agriculture, a note sent out via the United Nations said on Thursday.

In the note, dated April 4, the World Bank said its approach does not capture indirect losses such as reduced productivity or business interruptions, and could only provide a certain degree of accuracy.

Reporting by Emma Rumney; Editing by Angus MacSwan

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