Bhotekoshi-Trishuli floods: Loss and Damage Fund grants Nepal $20 million (about Rs 3 billion)

The Fund for Responding to Loss and Damage has decided to assist Nepal with relief, rehabilitation and reconstruction for communities affected by the devastating floods in the Bhotekoshi-Trishuli area.

The Fund has decided to grant Nepal $20 million in US dollars, an amount equivalent to about Rs 3 billion.

After the floods, Nepal had formally requested the Fund to provide immediate financial assistance. Following that request, a special meeting of the Fund was convened, and that meeting decided on the assistance.

The Ministry has stated that the initial economic loss from the floods is estimated at $2.7 billion, while $4.7 billion is estimated to be needed for reconstruction.

The Bhotekoshi-Trishuli floods caused extensive damage in the affected areas. The funds received from the Fund will be used for the relief, rehabilitation and reconstruction of affected communities, it has been stated.