The UN Office for Disaster Risk Reduction (UNISDR), in a report, has said as much as US $314 billion will have to be spent every year to meet annual average losses from just earthquakes, tsunamis, tropical cyclones and river flooding.
The Intergovernmental Panel on Climatic Change (IPCC) came to the conclusion that, worldwide the frequency and magnitude of all types of natural disasters are on the rise.
According to a recent study by the World Bank, 2.25% of the GDP and 12.15% of the revenue of the country were lost due to natural disasters.
Globally, such disasters have claimed over 1.3 million lives and cost the global economy at least $2 trillion in the past 20 years.
Ref: 3rd Report of ARC.