Loss and Damage Fund to consider $21.6m aid for Nepal
Summary
The Loss and Damage Fund will meet next week to consider a provisional US$21.6 million allocation for Nepal after the devastating Bhotekoshi floods. Nepal has asked for urgent financial support as it faces billions of dollars in estimated recovery and reconstruction needs.
Key Points
- The Fund for Responding to Loss and Damage will hold an extraordinary virtual meeting on October 22 to discuss Nepal’s funding request after the Bhotekoshi floods.
- The proposed package includes a provisional allocation of US$21.6 million, with US$1.6 million set aside for oversight fees.
- Nepal’s government estimates it will need at least US$4.71 billion for recovery and reconstruction, with initial losses and damage put at US$2.69 billion.
- The decision is being watched as a test of how quickly international climate finance can respond to vulnerable countries facing climate-induced disasters.
