🌍✨ Loss and damage fund agrees $20m for Nepal but rich nations warn it should not set precedent
Why we’re watching: The board of the UN’s Fund for Responding to Loss and Damage agreed on Thursday to set aside $20 million to help Nepal recover from the devastating climate-driven flood it suffered in August.
At an extraordinary online meeting, board members unanimously invited Nepal’s government to submit a proposal for how to use the money, which will be considered at a future board meeting. 💚
The board’s co-chair Camila Minerva Rodriguez described the decision as “truly historic” as it is the first time the new fund has allocated any money since it was set up three years ago.
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- 📌 Key signal: The board of the UN’s Fund for Responding to Loss and Damage agreed on Thursday to set aside $20 million to help…
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Reporting curated for GreenTV. Original reporting via Climate Home News.