This report presents a GRADE assessment estimating direct economic damage to buildings and infrastructure caused by the Rasuwa Flash Flood in Nepal on August 26, 2026, which left 1,252 dead and over 4,200 missing along the Bhote Koshi-Trishuli corridor, making it the most damaging flood in Nepal since 1993. Using a combination of flood damage modelling, satellite imagery, local data, and reports from government and humanitarian agencies, the assessment completed as of September 1, 2026 - aims to support response, recovery planning, and risk reduction discussions, while noting that it covers only physical asset damage and estimates replacement rather than reconstruction costs, which are expected to be considerably higher given the scale of ground-level destruction and required resilience measures.