Nepal's reconstruction costs $5 billion; flood death toll reaches 626

Afghan Voice Agency (AVA) - International Service: This figure is equivalent to nearly 10 percent of Nepal's gross domestic product. At the same time, the number of victims of the disaster has increased to 626 people and nearly 2,000 people are still missing.

 

Referring to the extent of the damage, Nepal's Finance Minister emphasized that a detailed assessment is still ongoing. The floods, which occurred following a landslide and a glacier on the Nepal-China border, have caused extensive damage to vital infrastructure. According to the initial estimate of the infrastructure minister, damage to roads, bridges and infrastructure is estimated at only about $1.3 billion, including the destruction of at least 22 concrete bridges and five metal bridges, as well as damage to 12 to 14 hydroelectric power plants.

 

While the UN has released $2 million from its emergency fund for initial relief and countries such as the UAE ($10 million) and India have announced assistance, the Nepalese government has refused to accept foreign search and rescue teams, despite numerous requests, including from South Korea, stating that it “does not need such assistance at this time.”

 

However, Nepalese officials have stressed the urgent need for massive financial assistance for reconstruction. The UN has also warned that more than 17,000 children have been affected by the disaster.