Nepal receives $20 million Climate Fund, seeks aid for flood
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Nepal will receive $20 million from a fund designed to help countries vulnerable to climate change.
The funding comes through the Barbados Implementation Modalities, a mechanism within the Fund for Responding to Loss and Damage (FRLD), and was approved based on proposals Nepal submitted earlier this year.
Maheshwar Dhakal, a focal point at the Ministry of Forests and Environment, confirmed the approval of the $20 million, equivalent to 3 billion Nepalese rupees, and stated the Alternative Energy Promotion Centre is now addressing reviewer comments before the funds are released. The FRLD currently holds $342 million in deposits and is using these initial funds to test long-term operational approaches.
Nepal also requested additional financial assistance on August 31 to address the damage caused by the recent Bhotekoshi flood, and is awaiting a decision on that separate appeal. Countries and groups from Asia, Africa, Latin America, least developed countries, and small island developing states voiced their support for Nepal’s request, urging developed countries on the FRLD board to expedite a decision.
The FRLD board includes 26 members, split between developed and developing countries, each with an alternate member to ensure continued operation.
