Daily Digest

· 2083 Kattik 6 BS

Covers news reported on .

Loss and damage fund sets aside $20 million for Nepal's flood recovery

The board of the loss and damage fund agreed on Thursday to set aside $20 million for Nepal after the August flood, pending a proposal from the government. Palpa farmers reported a fungal disease in paddy just before harvest. NEPSE stayed shut for Dashain.

At a glance

  • 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 26 flood, with Nepal invited to submit a proposal first.
  • Farmers in Palpa estimate a fungal disease called kalopoke could cut the district's rice output by 15 to 20 percent, The Kathmandu Post and Kantipur reported.
  • The Manaslu-Larke Pass trek has partly reopened after the Budhi Gandaki flood, but the Chum Valley route is still closed, Kantipur reported.
  • NEPSE did not trade on Thursday, a Dashain holiday. Its last session, on Friday, October 16, closed at 2,634.17.

Market snapshot

NEPSE 2,634.17 +8.24 (+0.31%) Fri 16 Oct close, no session Thu
NEPSE turnover Rs 4.88 billion no session Thu Fri 16 Oct
USD/NPR 150.84 sell 151.44 NRB buying rate for Thu 22 Oct
Gold / tola Rs 290,200 +Rs 500 Mon 19 Oct, last fixing found
Silver / tola Rs 4,185 +Rs 85 Mon 19 Oct, last fixing found

Top story Global

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.

Trade & Remittance

Business & Industry

Fungal disease hits paddy in Palpa before harvest, farmers estimate output loss of up to 20 percent

A fungal disease known locally as kalopoke, or black spot, has spread through paddy fields in Palpa just before harvest, mostly in hybrid varieties, The Kathmandu Post and Kantipur reported in the same reporter's story. Farmers estimate it could cut the district's rice output by 15 to 20 percent.

Agricultural expert Santosh Kumar Chaudhary suspects infected seed and says there is no definite treatment. No test has been reported. Farmers have asked seed suppliers, the Agriculture Knowledge Centre and local technicians to find the cause.

Palpa has 7,287 hectares of land suitable for rice, according to directorate figures the reports cite.

Why it matters: Neither report gives the area affected or the district's normal output, so the farmers' estimate cannot be turned into tonnes. No official response has been reported.

Manaslu-Larke Pass trek partly reopens after the flood, Chum Valley route still closed

The trekking agencies' association said the Manaslu-Larke Pass route has partly reopened after repairs by the Dharche and Chumnubri rural municipalities, Kantipur reported. The Chum Valley stays closed after a bridge collapsed.

Dharan market manager puts Dashain goat and sheep trade at Rs 262.5 million

Goat and sheep sales at the Dharan agricultural produce market this Dashain came to Rs 262.5 million, against Rs 230 million last year, its manager told Kantipur in an agency report. That is about 14 percent more.

On the radar

  • Monday, October 26 (Kattik 9): NEPSE is due to reopen after the Dashain holidays, ShareSansar reported.

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