Nepal estimates $4-5 billion needed for flood reconstruction

Nepal's Finance Minister, Swarnim Wale, has estimated that the country will require between $4 billion and $5 billion for reconstruction following devastating flash floods and landslides in the northern Tesrowa region. The disaster, which occurred around August 26, has resulted in at least 626 deaths and left nearly 2,000 people missing.

The government has initiated a two-stage response: the first phase focuses on search and rescue operations, while the second phase aims to establish temporary settlements providing essential services such as food, water, electricity, and communication.

International support is being mobilized, with the World Bank and the Asian Development Bank pledging humanitarian aid. Neighboring countries, including China and India, are also providing financial support and relief supplies. Binod Chaudhary, Nepal's only billionaire, noted that the challenge involves not only massive funding but also significant time requirements for recovery.