Nepal Finance Minister says flood damage could reach billions of dollars

Nepal’s Finance Minister, Swarnim Wagle, has said the losses caused by flooding in his country could reach billions of dollars.

“Cumulatively, I think, the value of losses and damage once calculated precisely in about a week will reach at least several billion dollars,” Finance Minister Wagle told Bloomberg TV.

According to him, initial estimates of the damage are “quite alarming”.

Nepali authorities have evacuated 3,253 people during the flash floods, as reported by the news portal Ratopati, citing Nepali government spokesperson Sasmit Pokharel on Friday.

It was reported that a total of 3,253 people have been rescued following the floods that occurred on Wednesday (26/8).

Fifteen helicopters have been deployed to carry out rescue operations. In addition, four helicopters have also been deployed to distribute food and other essential supplies to the affected areas.

Very strong water currents struck the Bhotekoshi River in Nepal’s mountainous region on Wednesday. The major flood was triggered by an earthquake which was then followed by a landslide.