Nepal mobilizes Rs20 billion for flood response, seeks international aid

Nepal is scrambling to gather funds for rescue, relief, and rehabilitation after devastating floods along the Bhotekoshi River. The government has immediate access to around Rs20 billion from its current budget allocations for disaster management and rescue operations.

Finance Secretary Ghanshyam Upadhyaya stated that while the full extent of human and physical damage is still being assessed, this Rs20 billion can be mobilized quickly. The finance ministry is actively seeking additional resources, reaching out to both domestic and international partners. Several countries and international agencies have already expressed interest in providing assistance.

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This is money already allocated in the current fiscal year’s budget under various headings, including relief, disaster management and rescue, and it can be used immediately as needed.

Donations are being collected through the Prime Minister’s Relief Fund and the Prime Minister’s Disaster Relief Fund. These accounts, which held substantial amounts prior to the latest fundraising drive, are now seeing contributions arrive following a government appeal. India, China, and the World Bank are coordinating financial and other aid for rescue and reconstruction efforts.

David Sislen, the World Bank's country director, indicated that up to Rs25 billion could potentially be mobilized as emergency assistance. India is providing immediate relief materials, while China has agreed to provide cash assistance. Finance Minister Swarnim Wagle has thanked partners for their pledges and is discussing how the aid will be channeled through government-to-government coordination.

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We do not yet know how much will ultimately be required because the full extent of the damage has not been assessed. The finance ministry is working to secure additional resources, including by reaching out to governments and agencies at home and abroad.