Nepal Faces $4.78 Billion Flood Reconstruction Bill
Nepal expects to spend about US$4.78 billion to rebuild after last month’s deadly floods.
The country’s foreign ministry announced the estimate on Friday. The disaster followed a glacial mountain collapse near the China-Nepal border.
The floods killed more than 1,400 people. Thousands of others remain missing.
Prime Minister Balendra Shah plans to raise the disaster at the United Nations General Assembly later this month. It will be his first foreign trip as prime minister.
Shah wants the international community to focus on Nepal’s losses from climate change. Foreign Secretary Amrit Bahadur Rai said Nepal needs long-term support to deal with a changing mountain environment.
Of the estimated $4.78 billion, about $57.67 million will support short-term recovery. The government expects to use those funds during the next six months.
However, most of the money will go toward longer-term rebuilding. Nepal estimates that work will cost about $4.71 billion.
Meanwhile, the government is carrying out a full assessment of the damage. Officials want to determine the cost of recovery, rebuilding and reconstruction.
A United Nations review has already estimated building damage at about $158 million. However, the total cost will be much higher.
The wider damage includes roads, bridges and farmland. It also includes humanitarian costs.
Nepal is a mostly rural country with about 30 million people. Yet, it produces only a small share of global greenhouse gas emissions.
Scientists say rising global temperatures are causing glaciers around the world to melt faster. This may increase the risk of disasters in mountain regions.
The cause of the recent glacial collapse remains unclear. However, climate change has raised concerns about future risks in the Himalayas.
Rescue teams are still searching for missing people. In particular, workers are digging through hydropower tunnels filled with freezing mud.
Three people survived after rescuers reached them inside the tunnels. However, no new survivors have been confirmed since a Chinese man was rescued nearly a week after the disaster.
In addition, the United Nations has launched a $50 million appeal. The funds will support more than 84,000 people affected by the disaster.
Rescue operations are now moving toward relief and recovery. Still, teams continue to search for survivors.
Nepal has recovered 1,385 bodies, while about 5,130 people remain missing. In China, 43 people have died and 519 remain missing.
Together, the disaster has killed 1,428 people and left more than 5,649 missing.
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