Rasuwa floods: World Bank projects Nepal's economic growth to slow to 3.7%

The World Bank has projected that Nepal's economic growth rate will shrink to 3.7 percent in the current fiscal year 2083/84. The bank has identified the devastating flood that came down the Bhotekoshi from Rasuwa on Bhadau 10 as the main cause of this slowdown. According to the bank's analysis, the flood has disrupted industry, services, hydropower and transport infrastructure.

Meanwhile, Anjan Shrestha, president of the Federation of Nepalese Chambers of Commerce and Industry, has called for relief and bailouts for affected businesses. Infrastructure Development Minister Sunil Lamsal has said that preparations are underway to move affected families to safe locations before Dashain. He said, however, that approval from China is still awaited for the operation of the Tatopani border crossing.