Nepal’s flood losses estimated at US$2.56bil

Nepal is facing an estimated US$2.56 billion in losses due to catastrophic floods, according to the country's disaster authority chief. Property, housing, and infrastructure were severely damaged, with the total cost reaching 387.5 billion Nepalese rupees. Dharma Raj Upreti stated that the early recovery efforts would cost around US$52.6 million, encompassing the rebuilding of roads, temporary shelters, provision of drinking water, and restoration of power.

These figures are preliminary estimates, compiled in collaboration with various agencies and departments. Upreti mentioned that a comprehensive assessment is forthcoming. The floods were triggered by the collapse of a glacier, which sent a surge of ice, rock, and mud down the Trishuli River in Nepal's border region with China. This disaster occurred on August 26, obliterating towns and villages and claiming more than 1,250 lives. As of now, over 4,200 people remain missing, and thousands have been displaced from their homes.