The Asian Development Bank (ADB) has approved a $5 million emergency grant to fund urgent rescue and relief operations after devastating floods and debris flows struck communities along the Bhotekoshi and Trishuli river systems on 26 August.
The disaster has caused widespread loss of life, injuries, displacement, and severe damage to homes, infrastructure, and essential services in Rasuwa, Nuwakot, and Dhading districts. The Government of Nepal has declared the affected areas disaster crisis-affected zones and is leading large-scale response operations.
Following the flash floods, Nepal government requested various organisations and individuals to donate to the fund. It received ₹1.91 billion within 36 hours from Wednesday afternoon to Thursday midnight, while assistance worth ₹385.5 million was donated on Friday alone, according to sources at the Prime Minister’s Office.
More than ₹2.295 billion has been donated to Nepal Prime Minister’s Disaster Relief Fund since massive flash floods wreaked havoc in the nation.
With the latest contributions, the fund’s balance has risen to ₹4.09 billion from ₹2.17 billion. The government has designated the Ministry of Finance as the focal ministry for collecting contributions to the fund and coordinating assistance.
Finance Minister Swarnim Wagle has been personally accepting contributions of ₹10 million or more from institutional donors, according to the minister’s secretariat.
Nepal may need $4 billion to $5 billion to rebuild after this week’s devastating floods, Finance Minister Swarnim Wagle told Reuters on Saturday, a bill equal to nearly a tenth of the economy.
