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Climate change left millionaire losses in El Salvador

San Salvador, Feb 13 (Prensa Latina) Losses in El Salvador due to climate change amount to 2.2 billion dollars in 30 years, a report revealed today.

A study by the Inter-American Development Bank (IDB), “El Salvador: opportunities outlook”, delved into the structural challenges that prevented economic activity from reaching its maximum development, such as low productivity, limited investment, institutional weaknesses and exposure to climate change.

The research showed that the El Salvador is ranked 28th among the countries most exposed to climate change worldwide, which mainly affects infrastructure and agriculture.

The entity warned in its assessments that if adequate actions are not taken, the cost of extreme events will reach 7.2 percent of the annual Gross Domestic Product (GDP) as of 2030.

It exemplified that after periods of drought between July and August, Salvadoran farmers face excessive rainfall with the onset of winter, leaving in its trail, millions of dollars in losses which, in 2023 alone, exceeded 82.6 million dollars, according to calculations by the Salvadoran Chamber of Small and Medium Agricultural Producers Association.

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