UN Loss and Damage Fund Allocates $20 Million to Nepal for August Flood Disaster

The United Nations Loss and Damage Fund board set aside $21.6 million for Nepal to address damages from the Bhotekoshi river floods that occurred in August.

This marks the first time the fund, established in 2022, has earmarked financial assistance for a specific country to remedy climate change impacts.

The allocated amount represents a small fraction of Nepal's self-assessed economic losses, which total approximately $5 billion.