UN Fund Allocates $20 Million for Flood Relief in Nepal
The United Nations Fund for Responding to Loss and Damage has approved $20 million to aid Nepal's recovery from severe flooding caused by an avalanche on August 26. This decision was made during an extraordinary meeting of the Fund’s Board, following an urgent request from the Nepalese government. The floods have resulted in significant destruction, with damage and economic losses estimated at $2.7 billion, while recovery efforts are projected to cost around $4.7 billion. Nepal must submit a detailed project proposal to receive the assistance, which aims to support vulnerable developing countries facing climate change impacts.
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