Bosnia and Herzegovina Urged to Invest $6.8 Billion in Climate Adaptation

Bosnia and Herzegovina requires a $6.8 billion investment over the next decade to combat the escalating impacts of climate change, as outlined in a recent World Bank report. The report warns that by 2050, climate-related damages could shrink the country's economy by up to 14%, with floods representing over 90% of these damages. World Bank Country Manager Christopher Sheldon emphasized that climate change poses a direct threat not only to the economy but also to public health and social well-being. Recent floods have highlighted the urgent need for nature-based solutions like floodplain restoration and peatland preservation to bolster resilience. Moreover, the report advocates for a transition towards renewable energy sources and improved energy efficiency by 2050, as part of a broader strategy to mitigate climate risks and promote sustainable growth. Investing in climate adaptation is projected to yield significant economic returns, with every €1 spent potentially generating up to €10 in benefits.