The Economy of Nepal
The 2015 Earthquake
The April 2015 earthquake killed about 9,000 people and caused damage equal to roughly a third of GDP, testing the state's ability to rebuild.
A national catastrophe.
Damage
Around 9,000 died, and hundreds of thousands of homes were destroyed.
Cost
Losses were estimated at about $7 billion.
Rebuilding
A reconstruction authority was set up, and households received grants to rebuild to earthquake-safe standards.
Lessons
Disaster preparedness and building codes are vital in a seismic zone.
A rebuilt home
A family used a government grant to rebuild with reinforced walls.
Ignoring slow reconstruction
Rebuilding took years.
Key takeaways
- The quake killed about 9,000.
- Losses were about a third of GDP.
- Grants funded rebuilding.
- Building codes matter.
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