What is the importance of the UN Loss and Damage Fund’s payout to Nepal? | Explained

The UN Loss and Damage Fund has made a payout to Nepal, which is a significant development in the global effort to address climate change impacts. This payout is part of the fund's grant contributions, totaling $629.70 million (approximately ₹5,982 crore), which were pledged by 27 countries. The fund aims to support countries affected by climate-related disasters, and Nepal's receipt of these funds will help the country recover from such events.

Why it matters

The UN Loss and Damage Fund is providing financial assistance to Nepal. This fund is intended to help countries affected by climate change.

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