Estimate equivalent to almost 10% of Nepalese GDP; death toll after glacier collapse approaches 700
The Nepal government estimates that rebuilding the areas destroyed by floods in the country will cost between US$4 billion (R$20.7 billion) and US$5 billion (R$25.9 billion). The value was released this Saturday (29.Aug.2026) by the Minister of Finance, Swarnim Waglé. The amount is equivalent to almost 10% of the Nepalese GDP (Gross Domestic Product).
The floods were caused by a landslide and a glacial avalanche on Wednesday (Aug 26), in the Himalayan mountain range. The catastrophe caused at least 682 deaths – 675 in Nepal and 7 in the Tibet region of China. The total number of missing people reaches almost 3,000 people, including more than 700 foreigners, the majority of whom are Hindu pilgrims from India and hikers.
According to the Minister of Finance, the current calculation is still preliminary, because the total damage remains under assessment. Waglé said the country should need fewer resources than the magnitude 7.8 earthquake in 2015 required. That year, the earthquake left around 9,000 dead and US$9 billion (R$46.7 billion) were needed for reconstruction.
Nepal’s economy relies heavily on hydropower, tourism and remittances sent by workers abroad. Floods hit power plants that account for more than 12% of the country’s generation capacity, in addition to washing away entire villages and destroying more than 20 bridges in the border region.
The Nepalese government temporarily suspended searches this Saturday (29 August) because of bad weather and rejected foreign support for general rescues.
Foreign Minister Shisir Khanal requested specialized technical support to remove people trapped in tunnels, carry out DNA tests and store bodies. China sent 5 tunnel rescue experts to assist with operations at a hydroelectric plant.
Source: https://www.poder360.com.br/poder-internacional/reconstrucao-do-nepal-depois-de-enchentes-pode-custar-r-259-bi/
