International
Nepal Secured USD 20 Million from New Climate Fund for Flood Relief
The Indian Express1h
THE BRIEF
1
The Fund for Responding to Loss and Damage provisionally set aside USD 20 million for Nepal to help it recover from August flash floods, making it the fund's first beneficiary.
2
Nepal estimated economic loss and damage from the floods at at least USD 2.69 billion, with initial recovery needs pegged at a minimum of USD 4.71 billion.
3
Nepal was asked to make a formal application to be considered at the board's next meeting in December.