Kathmandu, Oct. 24
Deputy Prime Minister and Minister for Finance, Bishnu
Prasad Paudel, has called upon the global community to simplify and make more
accessible the operational systems of international financial funds established
for climate finance.
Speaking at the annual meeting of the World Bank Group and
the International Monetary Fund in Washington DC of the USA, DPM Paudel has
urged the development partners and entire international community to act
responsibly and sensitively towards climate justice.
He informed the international representatives that despite
Nepal's unique biological diversity, the country is increasingly facing natural
disasters caused by human activities, which present challenges in securing
sufficient financial resources for mitigation and adaptation efforts. He
further noted that although Nepal’s contribution to climate change is minimal,
the country bears a significant burden from its adverse impacts.
According to him, over the past five years, the Government
of Nepal has spent an average of US$ 50 million every year on biodiversity
conservation. "But there is a need for additional financial resources so
there should be effectiveness in the mobilisation of support by the international
development partners and global environmental funds. Such support should come
as budgetary support to the government," he said.
He also urged the international community to ensure the
effective operation of the loss and damage fund established to support climate
justice.
Published in The Rising Nepal daily on 25 October 2024.
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