Nepal Puts Flood Damage At USD 2.56B As Rebuilding Begins

(MENAFN- Bangladesh Monitor) Dhaka: Nepal has estimated that last week's devastating floods caused at least NPR 387.5 billion, or about USD 2.56 billion, in damage to homes, property and infrastructure, according to the country's disaster management authorities.

Dharma Raj Upreti, head of the National Disaster Risk Reduction and Management Authority, told the media that the initial recovery phase is expected to require about USD 52.6 million over the first four months. The money would be used to repair roads, establish temporary shelters, restore drinking-water supplies and bring damaged electricity infrastructure back into service.

Upreti said the figures were preliminary and had been compiled with input from relevant government agencies and departments. A more comprehensive assessment is expected to follow.

The scale of the housing crisis is also significant. Authorities estimate that roughly 20,000 homes will need to be rebuilt in the affected areas, including at least 7,500 that were completely destroyed.

The disaster struck on August 26 after a glacier collapse triggered a massive surge of ice, rocks and mud into the Trishuli River near Nepal's border with China. The floods devastated settlements, leaving more than 1,250 people dead, over 4,200 missing and thousands displaced.

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