Nepal Estimates Flood Reconstruction Cost at $4.78 Billion

Abu dhabi: Nepal estimates that reconstruction following deadly floods triggered by glacial and mountain collapses last month will cost US$4.78 billion, according to the Ministry of Foreign Affairs. According to Emirates News Agency, Lok Bahadur Chhetri, spokesperson for Nepal's Ministry of Foreign Affairs, stated that approximately US$57.67 million would be needed for short-term recovery and reconstruction over the next six months. In contrast, long-term reconstruction would require around US$4.71 billion. The disaster, described as a tsunami-like surge of water, mud, and debris, originated near the China-Nepal border on August 26. It resulted in the deaths of more than 1,400 people and left around 5,600 missing. Chhetri informed reporters that the total estimated requirement for reconstruction is approximately US$4.78 billion. A preliminary assessment by the United Nations estimated the damage to buildings in Nepal at US$158 million. It warned that total losses, including damage to roads, bridges, and ag ricultural land, as well as humanitarian costs, would be considerably higher. Nepal's disaster agency reported that rescue teams have recovered 1,385 bodies, with around 5,130 people still missing. In neighboring China, state media reported 43 confirmed deaths and 519 people remaining missing.