Nepal could require between US$4 billion and US$5 billion to rebuild areas devastated by severe flooding along its border this week, Finance Minister Swarnim Wagle told Reuters on Saturday.
Wagle stressed that the figure remains an early estimate, as authorities are still assessing the full extent of the destruction and financial losses caused by the disaster.
“This is just an estimate. Loss and damage is being assessed,” he said.
The final reconstruction bill is expected to become clearer once assessments of damage to infrastructure, homes and other affected areas are completed.
The scale of the estimated funding requirement highlights the significant challenge facing Nepal as authorities begin recovery efforts following the devastating floods.
Officials are continuing to assess the situation before determining the level of financial assistance and resources needed for the country’s reconstruction.
