Nepal flood losses estimated at $2.56 billion after catastrophic flooding

Nepal suffered losses of at least 387.5 billion Nepalese rupees, equivalent to approximately $2.56 billion, in property, homes and infrastructure following last week’s catastrophic floods, according to Dharma Raj Upreti, head of the National Disaster Risk Reduction and Management Authority, cited by Reuters.

The official also estimated that about $52.6 million will be needed during the first four months of recovery to rebuild roads and temporary shelters, secure drinking water supplies and restore electricity.

The disaster began on August 26, when a glacier collapse triggered an avalanche of ice, rocks and mud that swept down the Trishuli River in the region bordering China. The disaster devastated communities and left more than 1,250 people dead, while more than 4,200 remain missing.