Nepal Faces Economic Crisis After Floods, Seeks International Climate Finance
Summary
Severe floods in the Bhote Koshi-Trishuli basin have devastated Nepal’s trade routes, infrastructure and public life, with reconstruction costs estimated at at least $4 billion. As the government seeks compensation and emergency support, experts are urging Nepal to strengthen its scientific case for climate finance and justice on international forums.
Key Points
- Floods in the Bhote Koshi-Trishuli rivers have badly damaged trade routes, infrastructure and public life in Nepal, with rebuilding costs estimated at at least $4 billion.
- Prime Minister Balen Shah is preparing to attend the UN General Assembly to highlight Nepal’s climate crisis and seek global attention.
- Experts say Nepal must build a stronger scientific and institutional basis for climate finance claims, including a national climate certification system and damage accounting framework.
- The Loss and Damage Fund has responded positively to Nepal’s emergency request and is working on possible support for relief and rehabilitation.
