UN climate fund sets aside $20 million for Nepal

The board of the United Nations Fund for Responding to Loss and Damage agreed to set aside $20 million for Nepal’s recovery from August floods, marking the fund’s first allocation. Nepal must still submit a proposal, and the board must consider it before any money is provided. The board made the decision at an extraordinary meeting on Thursday, October 22. Members invited Nepal’s government to explain how it would use the funding. The board is expected to consider the proposal at its next meeting in December, according to statements about the process. The set-aside is not an immediate transfer, and the amount Nepal ultimately receives will depend on the proposal and the board’s decision. Camila Minerva Rodriguez Tavarez, the board’s co-chair, called the move historic because it is the first time the fund has allocated money since it was established. Nepal’s finance minister, Swarnim Wagle, said the board’s emergency meeting and commitment of grant funding were welcome. Nepal had sought urgent assistance in a letter sent on August 31 by Wagle and Agriculture, Forests and Environment Minister Gita Chaudhary. The floods struck Nepal on August 26, affecting communities in the...