Nepal will need at least “a few billion dollars” to recover from the devastation caused by flash floods, prompting the $45 billion economy to seek international funding for a massive reconstruction effort, according to Finance Minister Swarnim Wagle, reports Bloomberg.

When the total loss and damage is assessed in a week or so, it will be at least “a few billion dollars,” the official said.

According to him, the World Bank has committed to redirecting at least 10 percent of its unallocated funds for other projects to Nepal's humanitarian needs; that will amount to about $160 million.

In addition, the Asian Development Bank intends to allocate $5 million, Nepal's finance minister added.