UN climate fund earmarks $20 million for Nepal
The fund’s first immediate disaster-response allocation would cover less than 1% of the initial flood losses reported by Nepal’s government.
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The fund’s first immediate disaster-response allocation would cover less than 1% of the initial flood losses reported by Nepal’s government.
The board of the United Nations Fund for responding to Loss and Damage earmarked $20 million for Nepal on October 22 to help it recover from August flooding. The decision sets money aside; Nepal must still submit a formal application and secure board approval before receiving it, Inside Climate News reported.
Countries agreed in 2022 to create the fund so wealthy nations could help developing countries cover irreversible economic losses caused by climate change. Inside Climate News described the Nepal decision as the fund’s first allocation in immediate response to climate impacts. The fund has not yet paid out any money.
The flooding, unleashed by a landslide and glacial collapse, killed about 1,500 people, with more than 5,000 still missing, the report said. Nepal’s government put initial economic losses and damage at at least $2.69 billion and said another $4.71 billion was needed for initial recovery and reconstruction.
| Measure | Amount |
|---|---|
| Initial losses and damage, government estimate | At least $2.69 billion |
| Additional initial recovery and reconstruction needs, government estimate | $4.71 billion |
| Fund allocation, subject to application and approval | $20 million |
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The fund also faces a gap between promises and contributions. Inside Climate News reported that 27 countries had pledged $822 million as of March, while actual contributions stood at $630 million. Some of those contributions had not yet been transferred into the fund. Meanwhile, 119 countries had submitted 176 requests for support.
| Category | Amount |
|---|---|
| Pledges from 27 countries as of March | $822 million |
| Reported contributions, some not yet transferred | $630 million |
| Support sought through 176 requests | $2.8 billion |
| Available for December funding decisions beyond Nepal’s emergency allocation | Up to $350 million |
Many developing nations called for the Nepal response to become a model for faster action. Representatives of some wealthy countries, including Germany and Japan, said the vote should not set a precedent for emergency funding outside the board’s standard process.
Harjeet Singh, global convenor of the Fill the Fund campaign, predicted that Nepal was unlikely to receive any money before 2027. That was his assessment, not a confirmed payment schedule.
Nepal’s formal request could receive approval at the board’s next meeting in December, Inside Climate News reported. At that meeting, the board is also expected to consider its first funding decisions beyond Nepal’s emergency allocation, with up to $350 million available.
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