The Fund for Addressing Loss and Damage (loss and damage fund) was established for the purpose of assisting nations in recovery after weather-related catastrophes. At present the organization has about $768 million of pledges from 28 nations, but it had to postpone its first approvals until July 2026.
How Much Do You Have?
At early stages of functioning of the loss and damage fund its startup phase was estimated at $250 million dollars. Funds available for projects come to $342 million lately and can reach even $20 million for each project. This organization has received 176 applications from 119 countries for $2.8 billion.
Why There is No Progress?
The board put off making the first decisions till December 2026 to make sure its decision process is fair, critics argue it makes countries be in a competitive situation. In reality the need is estimated at $400 billion annually.
Is Money on the Move?
Media sources claim that the board authorized $21.6 million in favor of Nepal at its meeting on October 22 after floods in August. The first replenishing process will take place in 2027 and COP31 will show whether donor countries are going to contribute more.
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