Ahead of donors meet, Nepal pegs quake loss at $7 billion
Seven weeks after a 7.9-magnitude earthquake ravaged large parts of the country, Nepal has pegged the total loss from the disaster at $7 billion.world Updated: Jun 13, 2015 14:03 IST
Seven weeks after a 7.9-magnitude earthquake ravaged large parts of the country, Nepal has pegged the total loss from the disaster at $7 billion.
A report on post-disaster needs assessment by the Nepal Planning Commission (NPC) released on Friday estimated property and assets worth $5.13 billion were damaged by the April 25 tremor and aftershocks.
There was an income loss of nearly $1.87 billion. The report said Nepal needs $6.66 billion —nearly a third of the country's GDP - for reconstruction and recovery.
The report prepared by more than 200 experts from Nepal and abroad covered over 20 sectors that were hit hard by the quake.
The housing sector, with losses of more than $3 billion, suffered the most. The quake, which was followed by a major aftershock on May 12, destroyed more than 500,000 houses and damaged nearly 279,000 others.
Environment, education, tourism, electricity, industry, agriculture, transport and cultural heritage are other sectors that suffered huge losses totalling more than $1.6 billion.
A man cries as he walks on the street while passing through a damaged statue of Lord Buddha in Bhaktapur, Nepal. (Reuters Photo)
The draft report was handed over to Prime Minister Sushil Koirala on Friday. A final copy will be prepared by next week and tabled during an international donors conference in Kathmandu on June 25.
"The report will be the only credible document to seek international support for reconstruction of the damage," NPC member Swarnim Wagle told the Republica daily.
On Friday, Nepal's finance minister Ram Saran Mahat handed over an invitation to Prime Minister Narendra Modi in New Delhi, requesting him to participate in the donors conference.
Following the April 25 quake, the United Nations issued a flash appeal seeking $422 million from the world community for humanitarian assistance in Nepal. Till date, only 31% of that figure has been received.
The Prime Minister's relief fund received nearly $26 million from within the country and abroad.
More than 8,700 people were killed and nearly 22,000 injured in the earthquakes that had a devastating effect on 14 of Nepal's 75 districts.
First Published: Jun 13, 2015 12:22 IST