The United Nations Fund for Responding to Loss and Damage has approved 20 million US dollars to support Nepal’s recovery from the devastating floods in August. The decision was taken at an extraordinary meeting of the Fund’s Board yesterday, following an urgent request from Nepal.
An ice-and-rock avalanche in the Himalayas on 26th August this year triggered floods along the Bhotekoshi and Trishuli rivers, destroying homes, roads, hydropower projects and other critical infrastructure. A government assessment estimates damage and economic losses at 2.7 billion US dollars, while recovery and reconstruction will require around 4.7 billion dollars. The proposed 20-million-dollar assistance will contribute to these efforts.
The assistance has not yet been disbursed. Nepal is required to submit a detailed project proposal for approval by the Fund, which supports vulnerable developing countries in addressing the impacts of climate change.
