Nepal seeks grants, not loans, for flood recovery after deadly glacier disaster

Nepal's Prime Minister, Balendra Shah, addressed the United Nations General Assembly on Thursday, urging international support through grants rather than loans to aid the nation's recovery from a devastating glacier flood. The flood, which claimed at least 1,450 lives, has inflicted significant damage, with recovery and reconstruction costs estimated at around 10% of Nepal's gross domestic product.

Shah emphasized that vulnerable countries should not be burdened with additional debt to rebuild after catastrophic climate events. He called for stronger climate cooperation between Nepal, India, and China, proposing a Himalayan mechanism to share satellite data, monitor glacial lakes, enhance early-warning systems, and coordinate disaster responses.

The recent disaster, described by Shah as a warning of the escalating risks of climate change, has destroyed roads, bridges, schools, homes, and livelihoods, disrupting Nepal's development progress. Search and recovery efforts are ongoing, with over 6,000 people still unaccounted for, many of whom may never be found. The World Bank has pledged up to $170 million in emergency financing to assist Nepal in its disaster response and recovery efforts.