$5 billion disaster cost: Rich nations should foot climate bill, says Nepal minister

Nepal's Prime Minister Balendra Shah has urged the United Nations to provide grant-based assistance to aid the Himalayan nation's recovery from a devastating glacier flood. The disaster, which claimed at least 1,450 lives, has left the country with recovery and reconstruction costs estimated at ten percent of its gross domestic product.

Shah argued that vulnerable countries should not be burdened with additional debt to rebuild after catastrophic climate events, instead calling for adequate grant-based support from the global community. He proposed closer cooperation between Nepal, India, and China on climate resilience, suggesting an urgent Himalayan mechanism to share satellite data, monitor glacial lakes, and strengthen early-warning systems.

The flood destroyed vital infrastructure, including roads, bridges, schools, homes, and livelihoods, significantly hampering Nepal's development progress. Foreign Minister Shisir Khanal emphasized that climate change is no longer a theoretical issue but a real and growing threat, with the frequency of such disasters expected to increase due to rising temperatures and melting glaciers.

Nepal, which contributes only 0.1% of global greenhouse gas emissions, has largely benefited from its hydropower sector, with over 70% of new cars sold being electric. Scientists from the World Weather Attribution identified the event as a "compound crisis" resulting from a combination of local geological instability and long-term warming.

Over 6,000 people remain missing, with search and recovery operations ongoing, and many may never be found. The World Bank has made up to $170 million in emergency financing available to Nepal for response and recovery efforts.