The United Nations Fund for Responding to Loss and Damage has provisionally allocated $20 million to Nepal following devastating floods, the Associated Press reported.
The disaster killed more than 1,400 people and left many others missing, while Nepal estimates that reconstruction could cost about $4.7 billion. The new allocation is therefore a small fraction of the country’s assessed recovery needs.
The fund, established in 2022, is making its first provisional payout. Nepal had received approximately $102 million in domestic and international assistance by the end of September, according to the report.
The decision highlights the gap between climate-disaster losses and the financing currently available to affected countries. The allocation remains provisional and should not be confused with the full amount of recovery funding required.