Risks from the climate, 6 billion USD investments are needed - WB: They protect life and guarantee economic growth, Albania is extremely risky
Albania must invest 6 billion dollars over the next decade to protect citizens and property as effectively as possible from the growing risk of facing extreme phenomena resulting from climate change.
According to the World Bank Group's Report on Climate and Development for Albania, which has just been published, we are one of the countries most at risk from natural disasters in Europe, such as floods, forest fires and landslides.
Meanwhile, according to conservative estimates, in the absence of proactive measures, climate-related economic damages could reach 7% of Albania's GDP.
Also, the report emphasizes that climate adaptation investments are not only necessary, but can also contribute to overall economic development.
Studies from countries similar to Albania say that for every 1 euro invested in climate adaptation efforts, the return on investment can reach up to 10 euros, which includes the least losses, economic opportunities and greater social and environmental benefits.
"Action on climate change leads to sustainable economic growth and a more climate-resilient future." Building this resilience creates greater opportunities for businesses and people, fosters job creation and supports long-term economic growth," said Emanuel Salinas, Manager of the World Bank Office for Albania.
The report also describes a roadmap of the necessary measures for Albania's transition to a sustainable and climate-resistant growth model.
This includes the need for immediate investment to mitigate the impact of disasters, the shift to renewable energy for long-term decarbonisation, reforms in public finance to support climate initiatives and boost private investment, and improving the regulatory framework to encourage efficiency and innovation. .
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