Climate finance is a fundamental component of the global response to climate change, enabling countries—particularly those most vulnerable, such as Nepal—to adapt to impacts, regenerate ecosystems, and build more resilient societies while developing a low-carbon economy. This report provides an updated overview of Nepal’s climate finance landscape, detailing funds received by source type, including bilateral and multilateral contributions, as well as their allocation to key areas of climate action, primarily adaptation and mitigation programs. In doing so, the report also examines the challenges and barriers to managing and utilizing climate finance in Nepal.