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8.2
Nepal seeks $2.5B from UN loss-and-damage fund after catastrophic floods
South China Morning PostLO·NP·about 5 hours ago
Nepal faces a $5 billion recovery bill after floods killed 1,250, and is turning to a new, underfunded UN climate fund for compensation. The fund's viability is untested, and its ability to disburse at scale is uncertain. This tests the international climate finance mechanism and could set precedent for vulnerable states.