Carbon Brief · Climate & nature

Nepal's $20m Climate Fund Claim Covers Tiny Fraction of Flood Damage

Nepal has requested $20 million from the UN's loss and damage fund for recent devastating floods, but this amount represents only a small percentage of the estimated total costs.

Nepal requested $20 million from the UN's loss and damage fund for recent floods, covering only 0.7% of the estimated $2.7 billion in damages. This makes Nepal the fourth-largest claimant to the fund.

Developing nations have requested $2.8 billion via 176 applications, while developed countries have pledged only $0.8 billion. No funds have been disbursed yet.

The floods, caused by a rock-ice avalanche, killed over 1,400 people. Total damage is estimated at $2.7 billion, with $4.8 billion more needed for recovery.

Nepal's $20 million request is for "rapid response," insufficient for reconstruction. Attribution studies link flood factors to climate change.

The fund has a $20 million cap per project. Developed nations have only agreed to "consultation" on Nepal's plea for urgent aid.

Experts criticize the "cold response" from developed nations, questioning the fund's effectiveness for immediate crises.

The next fund board meeting is December 15. Critics question the fund's purpose if it cannot respond to crises like Nepal's.

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