Nona Budoyan, Head of the Climate Policy Department of the Ministry of Environment, was elected a member of the newly established Loss and Damage Fund board by the Eastern European Group.
At the sixtieth session of the Subsidiary Body for Scientific and Technological Advice and the Subsidiary Body for Implementation (SB 60) of the United Nations Framework Convention on Climate Change, held in Bonn, Germany from 3 to 13 June, 2024, Nona Budoyan, Head of Climate Policy Department of the Ministry of Environment was elected a member of the newly established Loss and Damage Fund board by the Eastern European Group.
The Fund is mandated to provide the necessary financial resources to meet the needs of developing countries most affected by climate change response (such as loss of human life, damage to infrastructure and buildings, loss of property and crops, and degradation of ecosystems);
- recovery,
- elimination of medium and long-term effects,
- as well as provision of humanitarian financial support immediately after the disaster is planned.
At the moment, several countries have received a commitment to pay to the fund, in the amount of 661 million US dollars in total.
More details about the fund can be found at the following link https://unfccc.int/loss-and-damage-fund-joint-interim.