Nepal Seeks Grants for Flood Recovery
Nepal Prime Minister Balendra Shah asked the United Nations for grant-based aid to fund recovery from a deadly glacier flood. He argued vulnerable nations should not take on debt to rebuild from climate disasters.
Nepal Prime Minister Balendra Shah sought grant-based international support on Thursday following a glacier flood that killed at least 1,450 people. Reconstruction needs are estimated at 10% of GDP after the disaster struck mountain communities four weeks ago. Developing nations face mounting pressure to avoid debt-fueled recovery models after catastrophic climate events.
