Nepal to get $20 million from climate fund after deadly August flood
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.
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Nepal gets $20 mn in UN aid after $2.7 bn flood losses: Is climate finance failing vulnerable nations?
Nepal will receive $20 million from the UN’s loss and damage fund after August floods killed around 1,500 people and caused $2.7 billion in infrastructure losses. With reconstruction costs topping $4.7 billion, the aid highlights the gap between climate finance and vulnerable nations’ needs.
Nepal, having suffered disasters from floods and landslides in its mountainous regions, has been selected as the first recipient of an international fund established to assist countries affected by climate change. While this marks a historic first step toward compensating for climate change losses and damages, there are still issues to be resolved, such as the scale of support amounting to only 0.5% of the resources needed for recovery.
Nepal Becomes the First Country to Receive Millions From Climate Damage Fund After Mountain Disaster
Nepal is the first country to receive money from a fund established by the United Nations for poor countries damaged by climate disasters. The fund has pledged 20 million dollars (nearly 18 million euros) in support to the South Asian country, which was struck in August by a landslide in the mountains, followed by a devastating tsunami. More than 1,400 people died in the disaster, and there are more than 5,000 missing. The damage in the affecte…
Following the fall in the Himalayas in August, the UN Climate Fund is providing $20 million in aid to Nepal.
UN climate fund promises $20 million for Nepal flood recovery, far short of billions needed – WTOP News
BENGALURU, India (AP) — A United Nations climate fund has provisionally set aside $20 million to help Nepal recover from catastrophic flooding that killed more than 1,400 people, left thousands missing and caused billions of dollars in damage to homes, schools and hydropower dams in the Himalayan country and in China. Nepalese government officials and...
The Toronto Star
UN climate fund promises $20 million for Nepal flood recovery, far short of billions needed
BENGALURU, India (AP) — A United Nations climate fund has provisionally set aside $20 million to help Nepal recover from catastrophic flooding that killed more than 1,400 people, left thousands missing and caused billions of dollars in damage to homes,…
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