UN climate disaster fund moves to provide US$20 mn aid for Nepal
The provisional allocation is the fund’s first country-specific decision and would cover less than 0.5% of Nepal’s estimated reconstruction needs, officials said.
- On Thursday, the United Nations' Loss and Damage Fund earmarked $20 million in aid for Nepal, marking the first time the body has allocated money to a specific country in a test of its credibility.
- Tsunami-Like floods triggered by a climate-induced ice and rock avalanche in August ravaged Nepal's Bhotekoshi-Trishuli-Narayani river system, killing more than 1,400 people and leaving over 5,000 missing.
- This provisional funding represents less than 0.5 percent of the government's $4.78 billion reconstruction estimate, and Nepal must submit a formal proposal for board approval with no firm timeline set.
- European Union official Jan Dusik said the decision provides "learning for the development of the long-term model of the fund," though some developed nations stressed it should remain exceptional, not a template.
- Ahead of next month's COP31 in Turkey, critics fault the fund's meager pledges of over $820 million and a disbursement cycle disconnected from escalating climate disasters since its 2022 launch.
22 Articles
22 Articles
Nepal to get $20 million from climate fund after deadly August flood
KATHMANDU, Oct 23 - Nepal will receive $20 million in aid from the United Nations' climate loss and damage fund after the devastating flood along its border with China’s Tibet region in August, the government said late on Thursday. Read more at straitstimes.com.
Nepal becomes first beneficiary of global funding for loss & damage
The Fund for Responding to Loss and Damage (FRLD), created in 2022, convened an emergency board meeting on Thursday at the request of Nepal and several other developing countries. The Board decided to “provisionally set aside” a sum of $20 million for Nepal.
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PressNewsAgencyUN climate disaster fund moves to provide US$20 mn aid for Nepal
The UN climate fund has agreed to set aside US$20 million in aid for flood-hit Nepal, marking its first funding decision, though the money still requires final approval.
The UN Climate Loss and Damage Fund decided on Thursday to allocate $20 million in aid to Nepal, affected by severe floods, in its first reserve for a country.
UN climate disaster fund moves to provide $20m aid for Nepal
WASHINGTON: The United Nations’ climate loss and damage fund moved Thursday to provide $20 million in aid sought by flood-stricken Nepal, the first time it has set aside money for any country, in a key test of the body’s credibility. In an extraordinary meeting, the fund’s board agreed to earmark the modest sum for the Himalayan country, which was hit in August by tsunami-like floods triggered by a climate-induced ice and rock avalanche that kil…
UN climate damages fund earmarks $20 million to Nepal for August disaster
This is the first time that the Fund, set up in 2022, has allocated money to a specific country; amount is a fraction of Nepal’s own $5 billion loss estimate; so far, Fund has pledges for $820 million while fielding requests worth $2.8 billion
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