Y Media- The biggest South Asian Media House|Tuesday, September 26, 2017
You are here: Home » World » $4 bn pledged for Nepal’s rebuilding; India tops with $1 bn
  • Follow Us!

$4 bn pledged for Nepal’s rebuilding; India tops with $1 bn 

By Anil Giri (18:27)

Kathmandu, June 25 (IANS) Nepal was on Thursday pledged $4 billion by the international community for its reconstruction following a devastating quake two months ago with India announcing the largest amount of $1 billion in aid at the International Donors Conference on Reconstruction of the Himalayan nation here.

Nepal was ravaged by a 7.9-magnitude earthquake on April 25 that killed over 8,800 people and left over 100,000 injured, one million displaced and damaged some one million private and public houses, structures and buildings.

The total requirement for the country’s reconstruction was placed at $6.7 billion by the government in its Post Disaster Needs Assessment report and the Nepal government announced $2 billion as a startup fund immediately after the April 25 earthquake.

Top officials from 56 countries and donor agencies took part in the daylong conference pledging support to Nepal’s reconstruction effort.

At the outset, Nepal Prime Minister Sushil Koirala sought liberal aid from the international community for rebuilding the country after it was hit by the April 25 quake.

India responded to Nepal’s appeal with a $1 billion pledge, which was the largest amount of aid promised by any country or donor agency.

Out of the pledged amount, one-fourth was in the shape of grant, Indian External Affairs Minister Sushma Swaraj announced.

With the announcement of $1 billion loan and grant for Nepal’s reconstruction, India has pledged $2 billion to Nepal in the last one year — the single biggest aid promised for the economic development of Nepal.

Related posts: