Loss and damage fund approves $20 million for Nepal

The Fund for Responding to Loss and Damage (FRLD) has approved a $20 million (approximately Rs3 billion) allocation to Nepal to support relief, rehabilitation and reconstruction in communities devastated by floods in the Bhotekoshi-Trishuli region.

Minister for Agriculture, Forests and Environment Gita Chaudhary and Finance Minister Swarnim Wagle wrote to the fund on August 31, seeking urgent assistance for flood-affected communities. At a special meeting on Thursday, the fund’s board agreed to provide the funding.

The floods that struck the region on August 26 caused extensive damage and loss of life. Preliminary estimates indicate that more than 60,000 people from around 15,000 households were directly affected. Around 1,500 people reportedly lost their lives, while more than 5,000 remain missing.

The decision followed several rounds of discussions among board members and alternate members representing both developed and developing countries. The allocation was agreed after continued discussions, coordination and consultations following the Nepal government’s request.