Nepal needs special financial package after climate disaster: Finance Minister Wagle

लगानी न्यूज

२५ कार्तिक २०८३, बुधबार १६:१९November 11, 2026

. Finance Minister Dr. Swarnim Wagle has said that there is a need for a special international financial package with grants, concessional loans and debt relief to the vulnerable countries for post-disaster reconstruction and economic recovery.

Speaking at a discussion on ‘Full Economic Burden of Disaster: Debt, Credit Evaluation and Currency Situation after Climate Shock and Structure of Necessary Support Package’ held at Nepal Pavilion today as part of the 31st Conference of the Parties to the United Nations Climate Change (COP31), Minister Pokharel said that Nepal alone could not bear the economic burden of climate-related disaster.TAG_OPEN_div_15

Stating that the government had to cut budget to other development and social sectors to raise resources for rescue, relief and reconstruction after the disaster, he said this had a direct impact on the construction of schools and hospitals, social security and other development programmes.TAG_OPEN_div_13

On the occasion, Finance Minister Wagle expressed gratitude to India, China, the UK, the US, the European Union, the Middle East and the Gulf countries for their assistance during this disaster.TAG_OPEN_div_11

Stating that Nepal has received about two million US dollars grant for the first time from the Climate Induced Damage and Damage Fund, he said that although the assistance was welcome, the resources available in the fund were very low compared to the needs of the countries at risk. About 50 percent of Nepal’s land area is covered by forests.TAG_OPEN_div_9