Loss and damage fund allocates $20 million to Nepal; implementation proposal to be submitted

Nepal is set to submit a proposal for implementing assistance after the Fund for Responding to Loss and Damage, established under the United Nations Framework Convention on Climate Change, decided to support the country.

The Fund for Responding to Loss and Damage (FRLD), set up under the Convention and the Paris Agreement, has allocated $20 million (about Rs 3 billion) to Nepal for immediate financial assistance. The grant is to be spent on relief, rehabilitation and reconstruction for flood victims, according to the announcement.

In preparing the proposal, national priorities, the needs of local communities, and gaps in resources and programs at the government level will be taken as the main basis.

A concerned official said that if the process of preparing and submitting the proposal for approval moves forward on time, further decisions on the matter could come from the fund's board meeting scheduled for this December. The government must now prepare the proposal and submit it to the fund.