Nepal becomes the first country to receive millions from the climate damage fund after mountain disaster

Nepal is the first country to receive funding from a UN-established fund for nations affected by climate disasters, with $20 million pledged after a devastating landslide and flood. The disaster resulted in over 1,400 deaths and thousands missing, with reconstruction costs estimated at nearly $5 billion. Although the pledged amount is less than 1% of the needed funds, it marks a significant step as the first commitment from the fund, which was established under pressure from poorer nations. However, dissatisfaction remains regarding the fund's overall contributions, with only $822 million pledged by wealthier countries. Experts warn that the available funds are insufficient for the scale of damages caused by climate-related disasters, as seen in Nepal.