Finland to provide Rs 1.87 billion grant for climate adaptation

Finland has committed to providing grant assistance for Nepal’s Local Climate Adaptation Programme. The agreement for this financial support was signed at an event held at Nepal’s Ministry of Finance. Key signatories included Shree Krishna Nepal, Joint Secretary and Chief of the International Economic Assistance Coordination Division of the Ministry, and Riina-Riikka Heikka, the Finnish Ambassador to Nepal.

The Council of Ministers had approved the acceptance of this grant on May 20. According to the agreement, Finland will contribute 13 million Euros (approximately Rs 1.87 billion) to Nepal. This funding will support climate adaptation initiatives across various local levels in the Karnali and Sudur Paschim provinces.

This agreement follows a prior memorandum of understanding signed between the European Union and Nepal’s Ministry of Finance on July 22, 2023. The agreement also coincides with the 50th anniversary of diplomatic relations between Nepal, Finland, and the EU. The Local Climate Adaptation Programme is set to begin in the fiscal year 2024/25.