Consortium for Land Research and Policy Dialogue (COLARP) conducted this study on “Financing Gaps for Risk Reduction and Management of Climate Induced Disasters in Nepal” in financial support of Practical Action Nepal. This assignment, which is a part of Zurich Flood Resilience Programme (ZFRA), primarily aims to identify gaps and issues of disaster risk financing in climate induced disasters in Nepal. The study attempts to quantify international and national climate induced disaster fund flow, fund flow channel and mechanisms in sub-national level, and funding gaps in climate induced flood disaster risks during mid-term and long term.
The evidence generated from this study supports to have an informed engagement in the national policy dialogue and to advocate for the increase investment in risk reduction and management of climate induced disasters—ultimately supporting in the implementation of national policies and strategic action plans on disaster risk reduction and management and climate change adaptation. The overall aim of the study is to contribute to improve both quantity and quality of investment in risk reduction and management of climate related disasters in Nepal.
The overall objective of this study is to understand the national spending (both ongoing and planned) on risk reduction and management of climate related disasters, examining the landscape of disaster risk financing as well as available financial instruments and quantify the actual financing gap to avert, minimize and address flood induced loss and damage in Nepal. Specifically, the study aims to:
To quantify financing for risk reduction and management of climate induced disasters and track the fund flows from multitude of sources (international and national) and generate up-to-date evidence on national spending for risk reduction and management activities.
To analyze the DRR fund flow mechanism from federal level down to provincial and local level and identify institutional constraints to the effective delivery of DRR finance to poor and vulnerable groups, together with opportunities to empower governments to overcome these constraints.
To quantify actual funding gaps in flood risk reduction and management for Nepal by measuring the difference between the financing required averting, minimizing and address flood induced economic loss & damage in the medium and long term and the funding supply (actual or planned spending in flood risk reduction).
Provide necessary recommendations to improve the both quantity and quality of investment in risk reduction and management of climate related disasters in Nepal as well as the ways to enhance budget execution capacities along with the increase in investment