The U.N. Fund for Responding to Loss and Damage provisionally set aside $20 million for Nepal’s recovery from August floods along the Tibet border. Nepal estimates reconstruction and recovery will cost about $4.7 billion, so the allocation covers only a fraction of the need; the fund’s decision is not an immediate disbursement. The Associated Press reports the fund’s board acted Thursday, while Reuters cites Nepal’s government confirming the allocation. Sources: AP — apnews.com source ↗ ; Reuters — theprint.in source ↗
International
UN fund sets aside $20 million for Nepal flood recovery
A United Nations climate fund has provisionally set aside $20 million for Nepal after catastrophic August flooding. The amount is only a small share of the government’s estimated $4.7 billion recovery need, and the allocation is not an immediate payment. The Associated Press and Reuters report that the fund’s move is a first test of its loss-and-damage mechanism.
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