Nepal flash flood losses could run into ‘few billions’, says minister; seeks ‘different fundraising campaign’

Nepal's finance minister Swarnim Wagle has warned that the losses from recent flash floods could reach "a few billion dollars" as the country seeks a distinct fundraising approach for rebuilding efforts. According to Bloomberg Television, the preliminary estimates suggest that the total damages will amount to at least a few billion dollars, once determined within a week.

The disaster, which claimed at least 547 lives in the border region between Nepal and Tibet, has prompted the country to request international funding for reconstruction, as its $45 billion economy grapples with the immense task ahead.