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Finance Ministry begins work on resource management for disaster recovery


06 October 2024  

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KATHMANDU: The Ministry of Finance has initiated preparations to assess the impact of recent floods and landslides on the economy and resource management.

During a meeting of the Ministry’s High Management Team today, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel instructed officials to undertake this assessment, noting that additional funds and resources will be necessary for rescue, relief, and reconstruction efforts.

The catastrophic floods and landslides, triggered by incessant rains on September 27, 28, and 29, have resulted in significant loss of life and property.

The Finance Minister highlighted that while the disaster has adversely affected private housing, infrastructure, hydropower projects, educational institutions, agriculture, and various industrial sectors—alongside tragic human losses—it is crucial to establish a framework for economic recovery.

This preparation is essential to maintain the momentum for economic growth while advancing organized relief and reconstruction efforts.

Prior to the natural disaster, both the Ministry of Finance and international financial institutions, including the International Monetary Fund, the World Bank, and the Asian Development Bank, had reported positive trends in Nepal’s economic recovery.

Publish Date : 06 October 2024 20:53 PM

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