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Disasters causing average economic losses up to $300 billion annually: U.N.

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The United Nations' 2015 Global Assessment Report on Disaster Risk Reduction report has said that economic losses from disasters are now reaching an average $250 billion to $300 billion a year, reports Xinhua.

Ban Ki-moon, secretary-general of the U.N., urged the world to take steps to reduce disaster risk. Global investment of $6 billion each year in disaster risk management strategies would result in 20% reduction of new and additional economic losses annually, the report said.

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