business ποΈ Global banks knew risks before Nepal floods
Nepali officials reported over 1,900 missing people following the devastation of hydropower projects in river valleys. These projects, funded by banks like ADB and World Bank, are situated in the flood-ravaged Trishuli Basin. The situation involves over 36 hydropower projects, with the $647.4 million Upper Trishuli-1 project being severely impacted. Despite internal reports warning of extreme danger, these financial institutions failed to implement preventive measures. The crisis highlights severe negligence regarding climate risks in Himalayan infrastructure. π