Daily Market Updates: Nepal set to receive first-ever US$20 million payout from UN climate damage fund

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Nepal set to receive first-ever US$20 million payout from UN climate damage fund

Reported · Written up by our desk · North America

The United Nations’ climate loss and damage fund moved to provide US$20 million in aid sought by flood-stricken Nepal – the first time it has set aside money for any country – in a key test of the body’s credibility. In an extraordinary meeting on Thursday, the fund’s board agreed to earmark the modest sum for the Himalayan country, which was hit in August by tsunami-like floods triggered by a climate-induced ice and rock avalanche that killed more than 1,400 people and left over 5,000...

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SCMP EconomyNepal set to receive first-ever US$20 million payout from UN climate damage fund

Global Markets

Nepal set to receive first-ever US$20 million payout from UN climate damage fund

More like this

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