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LIVE DESK·Global markets desk·Last updated 14s ago
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Nepal resumes flood rescue operations, seeks billions for recovery

Rescue teams return to work as weather clears, while Kathmandu estimates up to $5 billion needed for rebuilding after glacial disaster kills hundreds.

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Helena Vásquez · Business Desk · 29 Aug 2026 · 16:52 · 1 min read
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Nepal resumes flood rescue operations, seeks billions for recovery

Nepal restarted aerial and ground rescue operations on Saturday after suspending them due to torrential rains and a newly formed glacial lake outburst that triggered landslides and flooding across the Himalayas.

The disaster, which began Wednesday with a glacier collapse in the Rasuwa district, has claimed at least 669 lives in Nepal and seven in China’s Gyirong County, where 540 foreign pilgrims—mostly from India—are among the missing. Nearly 3,000 people remain unaccounted for across both countries, including 91 Malaysian citizens listed as inaccessible.

Kathmandu has estimated reconstruction costs at $4 billion to $5 billion, according to Finance Minister Swarnim Wagle, who cautioned that the figure remains preliminary as damage assessments continue. Foreign Minister Shisir Khanal said Nepal has requested specialized technical assistance from international partners, citing gaps in local expertise for complex rescue and recovery tasks.

China deployed five tunnel engineering experts to assist with rescue efforts, with four additional specialists en route. India airlifted 60 tons of emergency supplies—blankets, medicine and food—via three flights to support stranded communities in the Trishuli and Nuwakot districts.

Operations were temporarily halted on Friday after heavy rain, fog and the overflow of the Lhende Khola and Trishuli rivers worsened access to remote villages. Helicopter sorties resumed Saturday afternoon as visibility improved, according to a district police official.

In the Chitwan district, authorities began collecting DNA samples from decomposing bodies recovered from landslide debris, with plans to bury remains in designated open areas to prevent health risks. Survivors like Saraswati Ghale, 43, described losing homes and livelihoods, while relatives of missing Malaysians described the lack of information as deeply painful.

This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Written by
Helena Vásquez
Business Desk

Helena covers corporate news for listed and private companies across Europe, from strategy shifts to leadership changes, with an eye for what a story signals about the broader market.

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