Government prepares to raise $5 billion for disaster reconstruction

Finance Minister Dr. Swarnim Wagle has made public a preliminary estimate that reconstruction following the Bhotekoshi-Trishuli disaster will cost around $4.7 to $5 billion.

To raise this amount, the government has launched diplomatic outreach to donor countries and institutions. According to the target, nearly 80 percent of the funds are to come from India, China, the World Bank and the Asian Development Bank.

The government is also preparing to receive about $20 million in grants from the Loss and Damage Fund.

The finance minister has pledged that reconstruction work will be carried out within budget limits. However, he told a special parliamentary committee that it will be difficult even to receive the expected grants within the current fiscal year.

Meanwhile, flood-affected citizens, including those in Rasuwa, remain without adequate support even during the festival season.