Government prepares to raise $4-5 billion for Bhotekoshi-Trishuli disaster reconstruction

The government has begun the process of raising the $4 to $5 billion needed for reconstruction and rehabilitation following the Bhotekoshi-Trishuli disaster. Finance Minister Dr Swarnim Wagle made public a preliminary estimate putting the reconstruction cost at $4.7 to $5 billion.

The government is preparing a financial package with India, China, the World Bank and the Asian Development Bank (ADB) for this purpose, with a target of raising 80 percent of the required amount from these sources. It has also been stated that a grant of $20 million is expected from the Loss and Damage Fund.

Finance Minister Wagle pledged that reconstruction work would be carried out within budgetary limits. He said it has been difficult even to secure NPR 7-8 billion in grants in the current fiscal year.

The finance minister gave this information while speaking about the damage caused by the Rasuwa flood and related relief and rescue efforts.