Nepal May Need Up to $5 Billion for Reconstruction

Nepal may need between $4 billion and $5 billion to rebuild infrastructure and communities devastated by the country’s recent floods, Finance Minister Swarnim Wagle has said.

Speaking to Reuters, Wagle described the figure as an initial estimate, stressing that authorities are still assessing the full extent of the damage caused by the floods.

The disaster has destroyed or severely damaged homes as well as major infrastructure across the country. Numerous roads and bridges have been damaged, severely disrupting connectivity with remote and hard-to-reach areas.

Nepal’s hydropower sector has also suffered significant damage. Several power facilities and electricity-generation infrastructure have been affected by the floods.

Satellite images have also shown the extent of the destruction, including an industrial facility that appears to have been almost completely wiped out after the flooding.

The government has yet to complete a comprehensive assessment of the damage. Relevant agencies are continuing to inspect affected areas and calculate losses.

Officials expect a clearer estimate of the reconstruction cost once the damage assessment is completed.