New Delhi [India], September 18 : Nepalese Finance Minister Swarnim Wagle on Friday expressed gratitude to Prime Minister Narendra Modi, the Government and the people of India for the “extraordinarily generous support” extended to Nepal’s rescue and relief efforts following the devastating flash floods, as Kathmandu looks to mobilise international assistance for a massive reconstruction programme.
Speaking to ANI, Wagle said India had stepped up to support Nepal as it did following the 2015 earthquake, stressing that the scale of the latest disaster had created an urgent need for international solidarity.
“The first point I made was that I'm here to express my gratitude to Prime Minister Modi, the Government of India, and the people of India for the extraordinarily generous support that India has extended for the rescue and relief efforts,” Wagle said.
According to Nepal’s latest estimates cited by Wagle, around 1,400 people have died and more than 5,000 remain missing, including nearly 190 Indian nationals.
Highlighting the scale of the devastation, Wagle said the climate-induced crisis had affected communities across South Asia and beyond, with livelihoods uprooted and significant physical and economic damage.
“This is a shared story that we need to really tell the world - what caused this, what are the consequences, the livelihoods that have been uprooted, the massive physical and economic upheaval that this has unleashed,” he said.
The Nepalese minister said the country’s initial damage assessment, conducted through the National Disaster Risk Reduction and Management Authority and vetted by the World Bank, estimated damage at around USD 2 billion, with an additional USD 1 billion in losses.
However, he said the cost of rebuilding on a “build back better” basis could exceed USD 4.5 billion to USD 5 billion over several years.
“This will require a lot of international solidarity, international assistance, and we will count on Indian assistance, as Prime Minister Modi conveyed to our Prime Minister Balen Shah when they spoke on the telephone,” Wagle said.
Asked whether Nepal expected a specific amount of financial assistance from India, Wagle said Kathmandu did not intend to put a number on its expectations, while pointing to India’s support following the 2015 earthquake.
“We don't intend to get into the numbers. In the 2015 earthquake, India's contribution was the largest,” he said.
Wagle recalled that when Nepal had sought around USD 4 billion from the international community after the earthquake, India had provided USD 1 billion in assistance, with 25 per cent in grants and the remainder through concessional lending from EXIM banks.
The minister said Nepal would therefore explore innovative financing mechanisms to meet its reconstruction requirements, including debt-for-recovery swaps, while seeking support from international partners and neighbouring countries such as India.
“So depending on who we're talking with, I think we need to be very creative and innovative. But the needs are there, and we will be counting on international partners as well as neighbours like India to help us,” he said.
Wagle told ANI that he is also set to travel to Doha and engage with the Asian Infrastructure Investment Bank before travelling to New York and Washington DC for discussions with the World Bank and the United Nations. He said he would subsequently attend the annual meeting of the Bretton Woods institutions in Bangkok in October.
Explaining the purpose of his international outreach, Wagle said Nepal wanted to highlight the wider implications of climate-induced disasters and build international support for vulnerable countries.
“It’s basically to tell the story of a climate-induced, climate-triggered disaster and how events like this, catastrophic events and huge impacts downstream not just in Nepal but possibly into India, will only become more frequent and more intense as this global warming is felt even on a broader scale,” he said.
“Our global greenhouse gas emissions are very little, but the consequences are being felt by the poor people of the country,” he underlined.
Wagle noted how Nepalese Prime Minister Balen Shah is also scheduled to travel to New York for the UN General Assembly, where he will highlight the impact of the disaster on vulnerable countries and seek international assistance and solidarity.
Wagle said his decision to begin his first international visit from New Delhi reflected the importance of India’s support as Nepal begins the long process of recovery and reconstruction.
“I wanted my first international visit to begin from Delhi and as this international campaign unfolds, I think the positive story and the pledges of support that we have received from both the Finance Minister and the External Affairs Minister - we're truly grateful and I think we want to build on this as we move forward,” he said.