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STORY: WORLD BANK/ EBOLA COST
TRT: 1:53
SOURCE: WORLD BANK / FILE
RESTRICTIONS: NONE
LANGUAGE: ENGLISH/ NATS
DATELINE: 8 OCTOBER 2014, WASHINGTON DC / FILE
FILE – WHO - JULY 2014, MONROVIA, LIBERIA
1. Wide shot, workers and protective gear
2. Wide shot, worker spraying building
3. Wide shot, workers in protective gear
8 OCTOBER 2014, WASHINGTON DC
4. SOUNDBITE (English) David Evans, Senior World Bank Economist:
“The economic impact of this crisis in the three most affected countries, Guinea, Liberia and Sierra Leon, is already very serious from what we see on the ground. However, the impacts on the region as a whole really depend on the international and domestic response. We see a scenario where the epidemic is brought under control and the impacts in west Africa are muted, maybe 3.8 billion dollars for the whole region by the end of 2015. On the other hand if the crisis isn’t brought under control in the next few months, we predict much larger economic impacts upwards of 30 billion dollars by 2015.”
FILE – WORLD BANK - JUNE 2014, DAKAR, SENEGAL
5. Wide shot, street scene
6. Wide shot, village mother and daughter
7. Wide shot, street pedestrians
8 OCTOBER 2014, WASHINGTON DC
8. SOUNDBITE (English) David Evans, Senior World Bank Economist:
“Most of these economic impacts aren’t in fact driven by sickness and death, those are tragic, but the numbers aren’t big enough to drive the economic impact we are predicting. The economic impact mostly comes from aversion behavior which is where investors abroad and workers at home reduce their labor and their investments in order to avoid putting themselves and their employees at risk. What the international community needs to do is, first, bring the epidemic under control, but at the same time, make it easier, implement policies that facilitate investment while protecting foreign investors from contagion in their home countries.”
FILE - WHO - JULY 2014, GUECKEDOU, GUNEIA-LIBERIA BORDER
9. Wide shot, man on speaker
10. Wide shot, mobile lab unit
With the latest death toll from Ebola now at more than 3,400 in the three worst-affected countries of Guinea, Liberia, and Sierra Leone, a new economic impact assessment from the World Bank Group says that if the epidemic was to significantly spread in neighboring countries, the two-year regional financial impact could reach US$32.6 billion by the end of 2015.
Ebola has already had a serious economic impact on three core West African countries but could cost the region tens of billions of dollars if action isn't taken soon, said a co-author of a new World Bank Group study.
World Bank Economist David Evans said “the economic impact of this crisis in the three most affected countries, Guinea, Liberia and Sierra Leon, is already very serious from what we see on the ground. However, the impacts on the region as a whole really depend on the international and domestic response."
He added "we see a scenario where the epidemic is brought under control and the impacts in west Africa are muted, maybe 3.8 billion dollars for the whole region by the end of 2015. On the other hand if the crisis isn’t brought under control in the next few months, we predict much larger economic impacts upwards of 30 billion dollars by 2015.”
The report cautions against “aversion behavior” or the fear factor that could lead to further major economic losses due to Ebola.
Evans also said "most of these economic impacts aren't in fact driven by sickness and death, those are tragic, but the numbers aren't big enough to drive the economic impact we are predicting."
He explained that the economic impact mostly comes from aversion behavior which is where investors abroad and workers at home reduce their labor and their investments in order to avoid putting themselves and their employees at risk.
Evans stressed "what the international community needs to do is, first, bring the epidemic under control, but at the same time, make it easier, implement policies that facilitate investment while protecting foreign investors from contagion in their home countries.”
The World Bank Group is mobilizing US$ 400 million in emergency financing for the three countries hardest-hit by the crisis.
