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Nepal has also appealed for international financial assistance but said it was coping without foreign rescue teams.
An aerial view shows houses lying deluged in sludge following flash floods in Trishuli of Nepal’s Nuwakot district on August 27, 2026. (Photo: AFP)
Nepal will need at least “a few billion dollars” to recover from the devastation caused by flash floods, Finance Minister Swarnim Wagle said.
“Cumulatively, I think the losses and damages, when they are finally quantified in a week or so, will amount to at least a few billion dollars,” Wagle told Bloomberg Television.
Nepal’s Minister for Science, Technology and Innovation Mahabir Pun said his government is open to accepting foreign aid, stressing that the infrastructure destroyed in the floods will need to be rebuilt.
World Bank Country Director David Sislen informed Nepal’s Finance Ministry that up to Rs 25 billion in local currency could potentially be mobilised as emergency assistance from various sources, The Kathmandu Post reported.
Nepal has also appealed for international financial assistance but said it was coping without foreign rescue teams.
“It is not that we will not need help, but our security network is capable and working effectively right now,” Foreign Ministry spokesman Lok Bahadur Chhetri told AFP. “If Nepal needs any specialised help or expertise, then we will request it.”
Meanwhile, the European Union promised two million euros ($2.3 million) in aid for Nepal. European Commission chief Ursula von der Leyen wrote on X that the “immediate humanitarian aid” would help “deliver life-saving assistance to families and communities hit hardest.”
The Red Cross also launched an emergency appeal for $31 million to respond to the devastating flash floods and landslides that struck the Nepal-Tibet border.
The Switzerland-based International Federation of Red Cross and Red Crescent Societies (IFRC) launched the appeal for 25 million Swiss francs a day after releasing one million francs to support the immediate lifesaving response.
The appeal will cover the emergency disaster response, followed by support for medium- and long-term recovery over the next two years.
“While we are getting a clearer picture of the scale of devastation, we know that entire villages were washed away and needs will grow in the coming hours and days,” IFRC Secretary General Jagan Chapagain said in a statement.
About the Author
Saurabh Verma is a Chief Sub-Editor at News18.com, specializing in Indian politics, national current affairs, and breaking global news. With years of experience tracking power shifts, election strateg…Read More
Kathmandu, Nepal
August 28, 2026, 9:55 PM IST
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