Sep 14, Kathmandu - Floods at the northern border crossing connecting Rasuwa-Gadhi have devastated local businesses, international transportation, and the agricultural sector, according to an initial report released by the National Disaster Risk Reduction and Management Authority.

The report states that the flood in Bhote Koshi on Bhadra 10 has caused direct damages of NPR 3.43 billion and halted business operations, resulting in an economic loss of NPR 116.09 billion. In total, the disaster has inflicted a staggering financial blow of approximately NPR 150.36 billion.

Nearly 4,800 commercial establishments in the flood-affected corridor have been impacted. Hotels and restaurants are the most affected, with 1,259 establishments damaged, followed by wholesale and retail businesses with 1,212 outlets.

The flood has also caused extensive physical damage to transportation infrastructure and hotel facilities, leading to the loss of billions in business revenue due to disrupted trade. The report estimates that approximately NPR 4.55 billion is required for the region’s recovery and reconstruction efforts.