Kathmandu. The ‘Loss and Damage Fund’ has decided to provide a grant of $ 20 million (Rs 3.2 billion) to Nepal. The fund, which was set up to address climate-related losses, has decided to provide this grant.

The Ministry of Agriculture, Forest and Environment informed in a press release that the fund has decided to provide the amount.

According to the Ministry, the amount will be spent in relief, rehabilitation and reconstruction of the families and communities affected by the devastating floods in the Bhotekoshi River on August 26.

So far, the Bhotekoshi floods have caused an economic loss of around $2.7 billion (Rs 407.70 billion) and it is estimated that Rs 4.7 billion will be required for reconstruction.