UN Climate Fund Allocates $20M to Aid Nepal After August Floods

• The UN Climate Fund has allocated $20 million to aid Nepal's recovery from August's devastating floods.
• This is the first time the Loss and Damage Fund has disbursed money to a specific country since its establishment in 2022.
• Nepal estimates its losses from the floods at $5 billion, while the fund has received pledges totaling $820 million against requests worth $2.8 billion.
• The $20 million is expected to be disbursed in the coming months.
• The fund's allocation to Nepal is a historic step but falls far short of the country's estimated needs.