What are the formal requirements a country must meet to claim from the fund? https://english.nepalne

Under the fund’s current pilot phase, known as the Barbados Implementation Modalities, any developing country considered particularly vulnerable to climate change is eligible to apply, with half of the available money reserved for least developed countries and small island developing states specifically. A request must be country led, meaning it originates from or is endorsed by a national focal point or authority rather than an outside organisation acting alone. It has to go through a defined eleven step cycle that includes a completeness check by the secretariat, a technical review, an opportunity for the country to respond to that review, and finally a vote by the twenty six member board. Individual grants under this pilot phase are capped between USD five and twenty million, a modest ceiling that was designed to test how the fund operates rather than to fully cover any country’s actual losses. https://english.nepalnews.com/s/explainers/bhote-koshi-flood-can-nepal-get-compensation-from-the-un-backed-loss-and-damage-fund/