Devastating Flood Causes Significant Damage to Nepal's Economy and Infrastructure
Summary
A devastating flood in the Bhote Koshi and Trishuli corridors has caused an estimated 7 to 8 kharba rupees in losses, damaging hydropower projects, roads, bridges and border trade with China. The disaster has also severely hit tourism and prompted calls for a new economic recovery and disaster-preparedness strategy.
Key Points
- The Bhote Koshi and Trishuli flood is estimated to have caused 7 to 8 kharba rupees in damage, or about 13% of Nepal’s GDP.
- Eleven hydropower projects, transmission lines, 55 kilometers of road and 37 bridges were badly damaged or washed away.
- The Rasuwagadhi border crossing is closed, disrupting trade with China and likely raising transportation and market costs.
- Experts say Nepal needs a stronger reconstruction, disaster-preparedness and long-term settlement planning model, while the government has introduced a recovery package.
