Finance Minister Dr Swarnim Wagle has estimated that Nepal will need $4.7 billion to $5 billion for reconstruction following the disasters in the Bhotekoshi and Trishuli regions. Addressing a parliamentary special committee meeting on Friday, he said the damage amounted to around 10 percent of the country’s GDP.
A rapid damage and needs assessment and the World Bank’s methodology estimated reconstruction costs at up to $5 billion, while the direct damage was estimated at $2.7 billion to $2.8 billion. Wagle said the government would reprioritize the existing Rs 2.124 trillion budget rather than introduce a supplementary budget.
He also said the Rs 18 billion collected in the Prime Minister’s Disaster Relief Fund would be spent based on established procedures and actual needs.
