New Delhi, Oct. 26 -- Nepal is set to receive $20 million from the United Nations' climate loss and damage fund following devastating August floods that killed around 1,500 people and left more than 5,000 missing.

But the allocation covers less than 1% of the country's estimated reconstruction costs, raising questions about whether global climate finance is reaching vulnerable nations at the scale they need.

The Fund for Responding to Loss and Damage (FRLD) agreed to set aside the money through an emergency procedure at a meeting on Thursday, October 22, the Nepalese government said.

The assistance is intended to "help address the severe damage caused by climate-related disaster", the Ministry of Agriculture, Forests and Environment sa...