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Nepal's flood damage may cost up to a tenth of economy to rebuild

World News

29-08-2026 | 05:41

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Nepal's flood damage may cost up to a tenth of economy to rebuild

Nepal may need $4 billion to $5 billion to rebuild after this week's devastating floods, Finance Minister Swarnim Wagle told Reuters on Saturday, a bill equal to nearly a tenth of the economy.

"The initial estimate is between $4-$5 billion. Just an ⁠estimate," Wagle said. "We will require much less than what we needed for the 2015 earthquake. Loss and damage is being assessed."

A glacier collapse on Wednesday unleashed a huge torrent of rock, ice, mud and debris through Himalayan mountain river systems, killing more than 600 people in Nepal and China's Tibet, with more than 2,000 still unaccounted for.

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