Economic aspects of integrated flood management

Integrated Flood Management (IFM) addresses issues of human security and sustainable development from a perspective of flood management, within the framework of Integrated Water Resources Management (IWRM). Floods play a major role in replenishing wetlands, recharging groundwater and support agriculture and fisheries system, making flood plains preferred areas for human settlements and economic activities, but recurrent and extreme floods pose grave risks to development and have negative impacts on lives, livelihoods and economic activity and can cause occasional disasters. Flood management plays an important role in protecting people and their socio-economic activities in flood plains from flooding, aiming at minimizing loss of life from flooding while maximizing the net benefits derived from flood plains.This publication presents approaches that help address socially relevant and environmentally friendly economic analysis, targeting flood managers in particular. It is crucial to adopt practices that suit the particular circumstances in a given hydro-climatic, topographical and, above all, socio-economic setting and follow a rational and balanced approach. Involvement of various stakeholders in decision-making can help achieve these objectives.