Kathmandu, October 23: The Loss and Damage Fund has decided to provide Nepal with a grant of US$20 million (approximately Rs 3 billion) to support relief, rehabilitation and reconstruction for communities affected by devastating floods in the Bhotekoshi and Trishuli rivers caused by climate change.
According to the Ministry of Agriculture, Forests and Environment, a special meeting of the Fund approved the grant in response to a request submitted by the Government of Nepal on August 31. Dr Maheshwar Dhakal, chief of the Climate Change Management Division, said the assistance had been secured following coordination with board members representing both developed and developing countries.
Under the decision, the funds will be mobilised after Nepal submits a separate project proposal targeting communities affected in the Bhotekoshi region.
The floods that occurred on August 26 directly affected more than 60,000 people from approximately 15,000 households. According to preliminary estimates, around 1,500 people lost their lives, more than 5,000 went missing, and the economic damage amounted to approximately US$2.7 billion.
With an estimated US$4.7 billion required for reconstruction, the Fund’s decision is being regarded as a significant step towards achieving climate justice.
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