Nepal becomes first beneficiary of global funding for loss & damage
4 min readNew DelhiOct 23, 2026 07:08 AM IST First published on: Oct 23, 2026 at 07:02 AM IST
A newly-created international climate fund that seeks to provide financial assistance to countries affected by climate disasters decided on Thursday to earmark US $20 million for Nepal to help it recover from the devastating flash floods in August, making it the first beneficiary of international funding for loss and damage – a long-pending demand of developing countries.
The Fund for Responding to Loss and Damage (FRLD), created in 2022, convened an emergency board meeting on Thursday at the request of Nepal and several other developing countries. The Board decided to “provisionally set aside” a sum of $20 million for Nepal.
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