Nepal to Receive $21.6 Million From Climate Loss and Damage Fund

KATHMANDU- The Fund for Responding to Loss and Damage (FRLD) has decided to allocate $21.6 million to Nepal, including $20 million in assistance and $1.6 million in monitoring fees, to address climate-related loss and damage.

The decision was made at an emergency meeting of the fund’s board on Thursday evening, according to reports.

The agenda of the fund’s first special board meeting convened in response to the devastating Bhotekoshi floods included an item on Nepal’s emergency request for immediate assistance following the disaster.

The meeting was held virtually to discuss Nepal’s request for urgent support after the floods struck on August 26.

Finance Minister Swarnim Wagle and Agriculture and Forests Minister Geeta Chaudhary had written to the FRLD seeking assistance for the immediate response to the Bhotekoshi floods.

The devastating floods caused significant loss of life and property in the Bhotekoshi area.

The disaster was triggered by a snow and rock avalanche linked to climate change, which subsequently generated a debris-laden flood. The flooding affected downstream areas of the Bhotekoshi-Trishuli-Narayani river system.