Overview

In many World Bank client countries, droughts present a significant challenge to rain-fed and irrigated agriculture and pose a barrier to investments for producers in the rural space. In addition, global climate change is projected to lead to more frequent and extreme droughts. Helping producers who are heavily dependent on agriculture adapt to current climatic extremes would help reduce their vulnerability to such exogenous shocks. Experience shows that drought shocks not only affect the agricultural sector but also trigger slowdowns in national growth, especially in poorly diversified transition economies. This implies that drought mitigation measures need to be incorporated into the design and implementation of economic reform and development programs. Inadequate attention to drought risks in countries and regions that are highly vulnerable means that projected growth rates and budgetary and investment goals may not be met in the event of a drought shock disrupting economic activities and external assistance.

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