Nepal Faces $4.78 Billion Reconstruction Bill After Devastating Floods

Nepal has estimated that the country will require around $4.78 billion to rebuild after last month’s devastating floods, which were triggered by a glacial mountain collapse, the foreign ministry said on Friday.

The August 26 disaster began near the China-Nepal border and sent a tsunami-like surge of water through affected areas. More than 1,400 people have died and thousands remain missing following the catastrophe.

Prime Minister Balendra Shah is set to raise the issue at the United Nations General Assembly later this month during his first foreign trip since taking office. Nepal wants greater international support to deal with the growing impact of climate change and disasters in the Himalayan region.

Foreign Secretary Amrit Bahadur Rai said Shah would use his UN address to highlight the repeated loss of life and property caused by climate change and related disasters.

Foreign ministry spokesman Lok Bahadur Chhetri said the overall reconstruction requirement had been estimated at $4.78 billion. Around $57.67 million will be needed for short-term reconstruction and recovery over the next six months, while approximately $4.71 billion will be required for long-term rebuilding.

Nepal Begins Detailed Damage Assessment

The government is carrying out a comprehensive post-disaster needs assessment to establish the full scale of damage and determine the resources required for recovery and reconstruction.

“Given the scale and extent of the damage, the government is also undertaking a comprehensive post-disaster needs assessment to determine the full extent of loss and damage and the requirement for recovery, rebuilding and reconstruction,” Chhetri said.

Nepal is highly vulnerable to climate-related disasters despite contributing only a small share of global greenhouse gas emissions. Scientists have warned that rising temperatures are accelerating glacier melt across the Himalayas, increasing the threat of floods and other disasters.

Although the exact cause of the glacial collapse remains unclear, the changing Himalayan environment has raised concerns about the increasing frequency and severity of such events.

UN Estimates Heavy Damage

A preliminary UN assessment put the damage to buildings from the floods at around $158 million. However, the overall losses are expected to be considerably higher after accounting for damage to roads, bridges, farmland and humanitarian infrastructure.

Rescue teams are continuing to search hydropower tunnels filled with freezing mud, where hundreds of workers remain unaccounted for.

Three people were rescued from deep inside the tunnels several days after the disaster. However, no further survivors have been confirmed since a Chinese national was pulled out alive nearly a week after the floods.

The United Nations has launched a $50 million appeal to assist more than 84,000 people affected by the disaster. The UN said operations were gradually moving from search and rescue towards relief and recovery, although rescue efforts were continuing.

Nepal, China Toll Rises

Nepal’s disaster agency said rescuers had recovered 1,385 bodies, while around 5,130 people remained missing as of Friday.

In China, 43 people have died and 519 remain missing, according to state media.

The combined death toll stands at 1,428, while more than 5,649 people are still missing. Around 800 foreigners, including tourists and pilgrims, are among those reported missing.

With the scale of destruction still being assessed, Nepal is expected to seek substantial international assistance for both immediate recovery and long-term reconstruction.