Loss and damage fund sets aside $20 million for Nepal's flood recovery
The board of the Fund for Responding to Loss and Damage agreed on Thursday to set aside $20 million for Nepal's response to the August flood, at an extraordinary meeting, Climate Change News and The Kathmandu Post reported. Climate Change News said the board also set aside $1.6 million for administrative costs.
The board invited Nepal's government to submit a proposal for using the money, which it will consider at a later meeting, Climate Change News reported. The Post said the money is meant for relief, rehabilitation and reconstruction in the communities the flood hit.
The flood came down the Bhotekoshi in Rasuwa on August 26. Nepal asked the fund for urgent help on August 31, in a letter that Agriculture, Forests and Environment Minister Gita Chaudhary and Finance Minister Swarnim Wagle sent, the Post reported.
This is a different decision from the $20 million Nepal had confirmed under the fund's regular window in September, from an application made before the flood, the Post reported then.
Why it matters: Nepal's recovery and reconstruction needs are put at $4.8 billion, Carbon Brief reported. No date has been reported for Nepal's proposal or for the money to be released.