Latest / GNN Daily Breaking News / Nepal Flood Damage May Cost 10% of Economy

Transcript

Nepal Flood Damage May Cost 10% of Economy · GNN Daily Breaking News

• 0:00
  Speaker 1: Nepal's government has warned that the catastrophic floods triggered by
• 0:04
  Speaker 1: a glacial collapse earlier this month could cost the country
• 0:07
  Speaker 1: up to 10% of its entire economy to rebuild, underscoring
• 0:11
  Speaker 1: the scale of devastation and the urgent need for international assistance.
• 0:16
  Speaker 1: Officials estimate that reconstruction will require billions of dollars, with
• 0:21
  Speaker 1: damage spanning homes, schools, hospitals, bridges, and roads across Razawa, Nuukot,
• 0:28
  Speaker 1: and dating districts. The finance ministry said the disaster has
• 0:32
  Speaker 1: wiped out years of development gains, threatening to push tens
• 0:36
  Speaker 1: of thousands of families deeper into poverty. The floods, among
• 0:40
  Speaker 1: the worst in Nepal's history, left more than 1,400 people
• 0:45
  Speaker 1: missing and nearly 400 confirmed dead. Entire villages were swept
• 0:50
  Speaker 1: away while thousands remained displaced in makeshift camps. Rescue operations
• 0:56
  Speaker 1: have been hampered by relentless bad weather, grounding helicopters and
• 1:00
  Speaker 1: blocking access to remote mountain communities. Prime Minister Pushpak Kamal
• 1:06
  Speaker 1: Dehal has appealed for urgent technical help to stabilize upstream
• 1:09
  Speaker 1: glacial lakes and prevent further collapses. He stressed that Nepal
• 1:14
  Speaker 1: cannot manage the crisis alone, calling for global solidarity to
• 1:18
  Speaker 1: rebuild infrastructure and restore livelihoods. This is not just a
• 1:23
  Speaker 1: national disaster, but a regional and global challenge linked to
• 1:27
  Speaker 1: climate change, Dehal said. International partners have begun mobilizing aid.
• 1:33
  Speaker 1: India has deployed rescue teams and set up emergency control rooms,
• 1:37
  Speaker 1: while China has sent personnel into Tibet's Jairong region. The
• 1:41
  Speaker 1: United States and European Union have pledged humanitarian support, but
• 1:46
  Speaker 1: officials warn that the scale of reconstruction will far exceed
• 1:50
  Speaker 1: immediate relief. Economists say the floods could shave several points
• 1:55
  Speaker 1: off Nepal's GDP growth this year, with long-term impacts on tourism, agriculture,
• 2:01
  Speaker 1: and energy. Hydropower projects have been damaged, while trekking routes
• 2:06
  Speaker 1: and pilgrimage sites vital to the tourism industry remain inaccessible.
• 2:11
  Speaker 1: Humanitarian agencies caution that displaced families face worsening conditions, with
• 2:17
  Speaker 1: shortages of food, clean water, and medical supplies. Doctors warn
• 2:22
  Speaker 1: of disease outbreaks in waterlogged areas, while aid groups stress
• 2:26
  Speaker 1: that rebuilding must prioritize resilience against future climate-driven disasters. For Nepal,
• 2:33
  Speaker 1: the floods represent not only a humanitarian crisis but an
• 2:38
  Speaker 1: economic reckoning. With damage estimated at a tenth of the
• 2:41
  Speaker 1: national economy, the country's appeal for billions in aid reflects
• 2:46
  Speaker 1: both the urgency of immediate recovery and the need for
• 2:49
  Speaker 1: long-term investment in climate adaptation.