Private sector investment crucial to building flexible future for Asia Pacific!

India has come a long way since the adoption of the Hyogo Protocol in 2005 to institutionalize disaster risk reduction, but even today enormous challenges remain,” said Kiren Rijiju, Minister of State for Home Affairs, Government of India

The Minister of State was addressing a workshop on strengthening private sector partnerships for reducing disaster risk.

The event was organized by the Ministry of Home Affairs, United States Agency for International Development (USAID), FICCI and the United Nations Development Program (UNDP) held in New Delhi.

The Global Assessment Report 2015 notes that average annual losses from disasters is expected to reach US$ 415 billion by 2030.

Over the past three decades, the incidence of disasters has increased globally, with the sharpest rise in Asia and Pacific.