What is the importance of the UN Loss and Damage Fund’s payout to Nepal? | Explained
As of March 15, 2026, 27 countries had pledged $822.06 million (approx. ₹7,809.6 crore), with $629.70 million (₹5,982 crore) in grant contributions
The United Nations climate convention's Loss and Damage Fund has allocated $20 million to Nepal following a devastating August flood. This is the first time the Fund has set aside money for a specific country to address climate-induced damage. The country's government estimates the economic losses caused by the disaster at $5 billion, but the allocated funds represent only a small fraction of this total.
The allocation comes as the 31st UN Climate Conference, COP31, is set to commence in Turkey next month. Nepal Prime Minister Balen Shah has proposed the establishment of a Himalayan Climate Resilience Mechanism in collaboration with India and China to address the escalating impact of climate change on the fragile Himalayan ecology.
Written by urgent.news from The Hindu - Sci-Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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