Nepal’s flood losses estimated at US$2.56bil

Last week, Nepal experienced catastrophic floods that caused an estimated US$2.56 billion in damage, with property, housing, and infrastructure losses reaching 387.5 billion Nepalese rupees, according to the country's disaster authority chief. Dharma Raj Upreti stated that the early recovery efforts would cost around US$52.6 million, including rebuilding roads, providing temporary shelters, ensuring access to clean water, and restoring power.

The figures are estimates based on coordination with relevant agencies and departments, with a more detailed assessment expected soon.

Upreti revealed that around 20,000 houses will need to be rebuilt in the affected regions, with at least 7,500 of these homes completely destroyed. The disaster began when a glacier collapse sent a surge of ice, rock, and mud down the Trishuli River in Nepal's border region with China on August 26. This event wiped out towns and villages, resulting in more than 1,250 deaths, and leaving over 4,200 people still missing. Thousands of residents were also displaced by the disaster.