World Bank estimates $1.66 billion in physical damage from Nepal floods

The devastating floods that struck Nepal on August 26 caused an estimated US$1.66 billion in direct economic damage to physical assets, with infrastructure accounting for 83 per cent of the total, according to a World Bank report.

The World Bank’s estimate of physical damage is close to the figure reported by the Nepali government in its preliminary Rapid Damage and Needs Assessment (RDNA), which put the damage at US$ 1.81 billion.

The RDNA additionally estimates



US$ 883.32 million in losses beyond physical assets, bringing total disaster effects to approximately US$ 2.7 billion.

The World Bank’s Global Rapid Post-Disaster Damage Estimation (GRADE), included in the Nepal Development Update unveiled this week, estimated damage to infrastructure accounted for the largest share of damage, at US$ 1.38 billion (83 per cent), followed by residential buildings at US$ 185 million (11 per cent) and non-residential buildings at US$ 101 million (6 per cent).