‘Loss and Damage Fund’ to Provide Nepal with NPR 3 Billion Grant
The ‘Loss and Damage Fund’, established to address climate-related loss and damage, has decided to provide Nepal with a grant of USD 20 million (NPR 3.02 billion). According to the Ministry of Agriculture, Forests and Environment, this amount will be spent on relief, rehabilitation, and reconstruction for families and communities affected by the devastating Bhotekoshi flood on Bhadra 10.
The ‘Loss and Damage Fund’, established to address climate-related loss and damage, has decided to provide Nepal with a grant of USD 20 million (NPR 3.02 billion).
The Ministry of Agriculture, Forests and Environment informed through a press release that the fund has decided to provide this amount as a grant.
According to the ministry, the amount will be spent on relief, rehabilitation, and reconstruction for families and communities affected by the devastating Bhotekoshi flood on Bhadra 10.
So far, the Bhotekoshi flood has caused economic damage amounting to approximately USD 270 million (NPR 407.70 billion), while the reconstruction is estimated to cost USD 470 million (NPR 707.70 billion).