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24 Jan 2011 description
  • Developing countries shoulder rising costs from disasters

    * Earthquakes, floods cost $109 bln in 2010 vs $35 bln 2009

    * Decaying infrastructure described as risk in urban areas

    By Laura MacInnis

    GENEVA, Jan 24 (Reuters) - Natural disasters caused $109 billion in economic damage last year, three times more than in 2009, with Chile and China bearing most of the cost, the United Nations said on Monday.

    The 8.8-magnitude earthquake that struck Chile in February cost $30 billion.