More than 60 per cent of households and firms have experienced extreme weather in the last five years, and over 75 per cent are expected to face it in the next decade, a new report by the World Bank has revealed.

In a new report titled 'From Risk to Resilience: Helping People and Firms Adapt in South Asia,' the World Bank has warned that South Asia is facing a sharp rise in extreme weather. Nearly 90 per cent of the population is expected to be exposed to intense heat by 2030, and more than one in five people is at risk of severe flooding.

It said that much of the adaptation effort needs to come from the private sector, as public budgets are under pressure. A new World Bank report has outlined policy reforms that would help households and firms adapt to increasingly frequent and damaging weather events.