Nepal has estimated that reconstruction following last month’s catastrophic floods will cost approximately US$4.78 billion, according to the country’s Ministry of Foreign Affairs.
Lok Bahadur Chhetri, the ministry’s spokesperson, said around US$57.67 million would be needed for short-term recovery over the next six months, with the remaining US$4.71 billion earmarked for long-term reconstruction. “The total estimated requirement for reconstruction is approximately US$4.78 billion,” Chhetri told reporters.
The disaster began on 26 August near the China-Nepal border, when glacial and mountain collapses sent a tsunami-like surge of water, mud and debris through communities downstream.
Nepal’s disaster agency has recovered 1,385 bodies, with around 5,130 people still missing. In China, 43 deaths have been confirmed and 519 remain unaccounted for, according to state media.
A preliminary UN assessment put damage to buildings in Nepal alone at US$158 million, while warning that total losses, once roads, bridges, agricultural land and humanitarian costs are factored in, would be far higher.
