Business News | Reconstruction After Flash Floods Will Need Huge Resources: Nepali Businessman Binod Chaudhary

New Delhi, [India] August 29 (ANI): Nepal will need a coordinated international effort to rebuild infrastructure and restore economic activity after the devastating flash floods, former MP and billionaire businessman Binod Chaudhary has said, stating that the scale of the destruction shows that billions of dollars will be required for relief, repair and reconstruction with a long-term focus on resilience.

Talking with ANI, Chaudhary said the disaster had caused extensive damage within minutes, with villages washed away, bridges collapsing and power infrastructure disrupted. He said the immediate priority should remain rescuing survivors and providing food, water, medicines and shelter to affected communities.

Also Read | Odisha Announces INR 20,000 Monthly Incentive for PG-Qualified Government Dentists.

Chaudhary said reliable estimates of the economic damage were not yet available. He said more than 500 megawatts of power generation capacity had been disrupted, while more than 30 bridges had collapsed, cutting off connectivity and affecting businesses and markets.

"My immediate reaction was of absolute shock and immense sadness. Nepal, as you rightly pointed out, have gone through many natural disasters and calamities in the past, ranging from 2015 to COVID, and even same area, last year, which saw a lot of damage. But this time, within minutes, we saw that villages got washed away, thousands and thousands of people got affected," he said.

Also Read | What Rishabh Singh Sambyal Said in His First Video After Taking Early Retirement.

"Bridges collapsed, and we did not even know where it's going to end, when it's going to stop. It is a disaster of a scale which nobody was prepared for, and particularly connecting China. I would like to assume, knowing the capabilities of China in terms of building sound and well-designed infrastructure, if this can happen through that, you can imagine the magnitude of the entire episode and its impact," he added.

Chaudhary said reconstruction would have to go beyond simply repairing damaged infrastructure. "Several billion dollars will not be enough," he said, calling for countries and international partners to contribute financial resources as well as engineering expertise and experience. He stressed that rebuilding should focus on resilience so that infrastructure and communities are better equipped to withstand future disasters.

The businessman said Nepal would also need support from institutions such as the World Bank, Asian Development Bank and neighbouring countries. India, he noted, was among the first to respond with relief supplies, while Sri Lanka and other international partners had also offered assistance. The key challenge, however, would be ensuring that aid and financial resources reach affected communities quickly and are used effectively for reconstruction.

Chaudhary, whose foundation was involved in rebuilding after Nepal's 2015 earthquake and built 2,700 homes, said his teams had already begun identifying locations for transitional shelters, schools and health facilities. He said the government and private sector would need to work simultaneously on resettling displaced communities, rebuilding bridges and restoring businesses and power infrastructure. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)