Nepal needs up to $5 billion to recover from a massive flood
Nepal may need between $4 billion and $5 billion to recover from the devastating flood that occurred this week. According to preliminary estimates, the damage amounts to nearly 10% of the country’s economy.
“The initial estimate (of damages—ed.) is between $4 billion and $5 billion. This is only a rough estimate,” Vagle said.
He added that the assessment of losses and damages from the flood is still ongoing, so the final amount may change.
On Wednesday, a glacier collapse triggered a torrent of rocks, ice, mud, and debris in the Himalayan mountain river systems.
The disaster caused widespread destruction in border regions. The floods destroyed or damaged towns, bridges, and roads, and also caused damage to large hydroelectric power plants.
The consequences of the natural disaster affected not only Nepal but also neighboring China.
According to dpa, the total death toll in Nepal and China has risen to 623.
Specifically:
- at least 616 deaths have been confirmed in Nepal;
- in China, seven people have died;
- more than 2,500 people remain missing;
- in Nepal, 1,924 people are being searched for, including 517 foreign nationals.
Rescue and search operations are ongoing. At the same time, the extent of the damage and the number of people missing may change as new information becomes available.
This was stated by Nepal’s Finance Minister Svarni Vagle, according to Reuters.
Following massive flash floods, the Nepalese Prime Minister’s Disaster Relief Fund has received over ₹2.295 billion in donations in the Himalayan country. This amount was raised within three days.
The number of Ukrainians with whom contact has been lost in the area affected by the massive natural disaster in Nepal has risen to 64. At the same time, no information has yet been received regarding Ukrainian citizens who have been killed or injured.
In Nepal, the death toll from devastating floods in regions bordering China has risen to 626 people. Another 2,426 people are still missing three days after the disaster.
