During the year 2022 the frequency and force of natural events and disasters have increased throughout the world. The Swiss company in the Swiss Re insurance area has estimated losses at 115,000 million dollars in the first ten months of the year.

The rains have been more intense and the frequency between the seasons in each continent has been reduced. This has caused landslides and other disasters, with an impact on human life and the economy, due to saturated soils, breakage of dikes, among others.

Likewise, hurricanes have become stronger, quickly rising in category as a result of climate change. Cities have been devastated, in ruins, generating more losses in all sectors of the economy.

According to Swiss Re: “Hurricane Ian, along with other winter storms in Europe, flooding in Australia and South Africa, as well as hailstorms in France and the United States, have so far accounted for estimated losses of $115 billion.”

This hurricane is the catastrophe that has left the most losses, reaching costs of between 50,000 million and 65,000 million dollars.

The reinsurer has estimated the costs due to the effects in Europe of the storms at the beginning of the year, in February, in the order of 3,700 million dollars. And in Australia, the rains between the same month and March left floods with costs estimated at 4,000 million dollars.

These are some figures for the damages as a result of natural phenomena and catastrophes in the world, which continue to occur at the end of 2022.

M.Pino

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Source: finanzasdigital

La entrada Global losses due to natural catastrophes amount to US$ 115,000 million apareció primero en Bitfinance.

The European Commission has given its approval this Tuesday to the second disbursement of 21,000 million euros from the European recovery fund for Italy, considering that it has complied with the conditions agreed for this payment, which still needs the formal approval of the partner countries to make it effective.

This section includes 10,000 million euros in the form of direct grants and another 11,000 million in loans and will be unlocked after the Italian Government meets a total of 45 milestones and objectives agreed with community services that include reforms in areas such as public employment, hiring public, the teaching profession, tax administration and territorial health care.

The request also includes investments in key policy areas such as ultra-fast broadband and 5G, research and innovation, tourism and culture, hydrogen, urban regeneration and digitization of schools; in addition to allocating part of the aid to complete a judicial reform.

In total, Italy presented a recovery and reform plan to obtain up to 191.6 billion euros in European aid with which to relaunch growth after the crisis caused by the coronavirus pandemic.

So far, the Italian authorities have already received two tranches, one considered an advance of 24.9 billion euros in August last year and a first formal disbursement of 21 billion euros in April this year.

After the favorable evaluation of the Community Executive, it is now up to the Member States to examine the Brussels opinion and decide within four weeks whether to confirm the favorable opinion that allows this new payment to be unlocked.

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Source: dpa

La entrada Brussels approves second disbursement of 21,000 million from the recovery fund for Italy apareció primero en Bitfinance.