Nepal faces an unprecedented rebuilding challenge after this week’s catastrophic floods, with officials estimating the cost could reach $4 to $5 billion. Finance Minister Swarnim Wagle told Reuters the figure represents nearly a tenth of the country’s economy. The initial estimate, he said, is still under review as damage assessments continue.
The floods, which hit the region along the border with China and Tibet, have claimed at least 626 lives and left 2,500 people missing. Local police confirmed the death toll, with seven victims in Tibet. Search efforts continue for the missing, including 517 foreigners, among them three Italians.
The disaster has overwhelmed Nepal’s infrastructure and emergency services. Reports describe entire villages submerged, roads washed away, and communities cut off from aid. The government is working with international partners to secure funding and support.
The scale of the destruction highlights the vulnerability of mountainous regions to extreme weather. With no official confirmation of the full death toll, the crisis remains ongoing, and the road to recovery is expected to be long and costly.
