Nepal has estimated that it will need about $4.78 billion to rebuild after deadly floods triggered by a glacial mountain collapse last month, the country’s Foreign Ministry said Friday.
The Aug. 26 disaster, which began with a tsunami-like flood along the China-Nepal border, killed at least 1,428 people and left more than 5,649 missing in Nepal and China, according to disaster authorities and Chinese state media.
Nepalese Foreign Secretary Amrit Bahadur Rai said Prime Minister Balendra Shah would use his first foreign trip as leader to address the United Nations General Assembly later this month and draw international attention to the country’s growing exposure to climate-related disasters.
“The total estimated requirement for reconstruction is approximately $4.78 billion,” Foreign Ministry spokesman Lok Bahadur Chhetri told reporters.
Chhetri said about $57.67 million would be needed for short-term reconstruction and recovery over the next six months, while approximately $4.71 billion would be required for longer-term rebuilding.
Nepal’s government is also conducting a comprehensive post-disaster needs assessment to determine the full extent of the damage and the resources needed for recovery and reconstruction.
A preliminary United Nations assessment estimated that damage to buildings alone stood at about $158 million, with total losses expected to be significantly higher after accounting for damage to roads, bridges, farmland and humanitarian needs.
Nepal, a country of about 30 million people, contributes only a small share of global greenhouse gas emissions but is increasingly vulnerable to the effects of climate change. Scientists say glaciers in the Himalayas are melting faster as global temperatures rise, increasing the risk of glacial-related disasters.
Rescue operations are continuing, particularly at hydropower tunnels where hundreds of workers remain missing. The United Nations has launched a $50 million appeal to assist more than 84,000 people affected by the disaster.
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