Nepal demands grants, not loans, to finance climate action at COP31
Summary
Nepal urged developed countries and international financial institutions to provide climate finance mainly as grants, saying vulnerable countries should not be pushed deeper into debt to face climate impacts. At a COP31 side event in Antalya, speakers called for faster, fairer and more accessible funding for adaptation and loss and damage.
Key Points
- Nepal said climate finance for vulnerable countries should come primarily as grants, not loans, to avoid worsening debt burdens.
- The NGO Federation of Nepal and Oxfam organized a side event at the Nepal Pavilion during COP31 in Antalya on climate finance access, quality and equity.
- Officials and experts said grants should be prioritized for adaptation, while concessional loans may suit projects with direct economic returns such as renewable energy and infrastructure.
- The Government of Nepal and ADB also hosted a separate programme on turning climate finance commitments into large-scale adaptation action.
