India
Archived — This article has been archived. The information may be outdated.
Nepal seeks about $5 billion for flood recovery
The Hindu··5d ago
Nepal Finance Minister Swarnim Wagle put flood reconstruction needs at $4.7 billion to $5 billion over three to five years. Assessments recorded $1.8 billion in damages and $900 million in losses. In Delhi on his first trip abroad, he said the Balen Shah government wants a reset with India on trade. He will meet the AIIB, IMF and World Bank.
Prism
What It Means For You
- Nepal is seeking large reconstruction finance after the Bhotekoshi river floods.
- Wagle discussed Indian grant and Line of Credit options during his Delhi visit.
- He said Lines of Credit denominated in INR were agreed in December 2025.
What's Happening
- Wagle gave an exclusive interview to The Hindu on reconstruction and India ties.
- He cited National Disaster Risk Reduction and Management Authority damage figures.
- Overflight rights for Nepal airports and border issues were also on the agenda.
Why Delhi Came First
- Wagle is an economist and former UNDP official making his first foreign trip as finance minister.
- After the 2015 earthquake, India announced about $250 million in grants and $750 million as credit.
- He said reconstruction will rebuild for resilience, not only replace what stood before.
all-news
