UN fund allocates $21.6 million to Nepal after August floods — The Hindu

The UN Fund for Responding to Loss and Damage has approved the allocation of $21.6 million to Nepal for reconstruction after devastating floods in August. The funds are intended to help the country’s government overcome the consequences of the natural disaster, The Hindu reports.

Assistance after the floods

The payout amounts to approximately 205 crore Indian rupees. The assistance was approved by the Fund for Responding to Loss and Damage, which operates within the financial mechanism of the UN Framework Convention on Climate Change.

The mechanism was created to support developing countries that are particularly vulnerable to climate change. The fund is intended to help them respond to economic and non-economic losses associated with extreme weather events and slow-onset processes.

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How the fund was created

Governments agreed to create the fund at the COP27 climate conference in 2022. The mechanism’s governing document was adopted at COP28 in 2023.

As of March 15, 2026, 27 states had announced commitments to provide the fund with a total of $822.06 million. Of this amount, $629.70 million consisted of grant contributions.