Disasters cost India $10bn |
A new United Nations global assessment report on disaster risk says India`s average annual economic loss due to disasters is estimated to be $9.8 billion. This includes more than $7 billion loss on account of floods. The global assessment report (GAR) 2015, produced by the UN Office for Disaster Risk Reduction (UNISDR), has urged countries, particularly in Asia, to treat this as a wake-up call and make adequate investment in disaster risk reduction (DRR) or it will hinder their development. UN member countries are meeting in Sendai, Japan the week of March 16 to sign a new DRR protocol that will replace the Hyogo Framework for Action (HFA). The new framework will have a commitment plan for a 10-year period.
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