$20 million UN climate fund for Nepal: A breakthrough, but only a first step
Summary
The UN’s Fund for Responding to Loss and Damage has earmarked $20 million for Nepal, marking its first allocation to a country facing climate-related losses. The amount is far below Nepal’s estimated $4.78 billion recovery need after the Bhotekoshi flash flood, and disbursement will depend on an approved government proposal.
Key Points
- The Fund for Responding to Loss and Damage has earmarked $20 million for Nepal, its first allocation for a country seeking climate-loss support.
- The amount is less than 0.5 percent of Nepal’s estimated $4.78 billion recovery and reconstruction needs after the Bhotekoshi flash flood.
- Nepal must submit a proposal for approval, and there is no firm timeline for when the money will be disbursed.
- The article says the fund must become larger, faster and more accessible if it is to meet the needs of vulnerable countries.
