Nepal seeks $2.5B from UN loss-and-damage fund after catastrophic floods

Nepal has formally requested rapid disbursement from the UN-backed Fund for responding to Loss and Damage after floods killed hundreds and caused $2.5 billion in damage, marking the fund's first major test. The request, signed by Finance Minister Swarnim Wagle, pressures the fund to deliver on its mandate amid questions about its capacity and speed. The outcome will set a precedent for climate-vulnerable nations seeking compensation for extreme weather events.