Nepal prepares to draw funds from Loss and Damage Fund

The board of the Fund for Responding to Loss and Damage, meeting the day after Dashain Tika, has decided to grant Nepal nearly 20 million US dollars, or more than 3 billion rupees.

With this decision, Nepal has become the first country to receive funds from this fund under the United Nations' climate change framework.

Citing climate change as the main cause of the Rasuwa flooding, Nepal had requested emergency funds from the fund on Bhadau 15. The Post-Disaster Needs Assessment (PDNA) report shows that reconstruction will require about 723 billion rupees and recovery about 473 billion rupees.