Close X
Monday, December 2, 2024
ADVT 
International

$4 Bn Pledged For Nepal's Rebuilding; India Tops With $1 Bn

Darpan News Desk IANS, 25 Jun, 2015 12:36 PM
     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.
     
    The amount pledged by India on Thursday will be used in the reconstruction of physical infrastructure as well as some key heritage sites which were severely damaged in the April 25 temblor and the intermittent aftershocks that followed. India's contribution is almost one seventh of the total requirement of $6.7 billion.
     
    Chinese Foreign Minister Wang Yi pledged to extend $480 million in the form of grant and loan. 
     
    China also offered a concessional loan from the Silk Road Fund for Nepal's reconstruction effort. China would also offer training opportunities for 1,500 Nepalis over the next year.
     
    Japan announced $260 million at the conference, and assured to organise the second donor conference to support Nepal's rebuilding effort. 
     
    "Japan will support in repairing cultural heritages," said Japanese State Foreign Minister Minoru Kiuchi.
     
    US Ambassador to Nepal Peter Bodde announced aid worth $130 million.
     
    Norway announced $30 Million, Britain pledged $110 million, Canada promised $60 million, Switzerland $25 million, and South Korea $10 million. 
     
    Pakistan has pledged $1 million and Austria announced $1.2 million in financial assistance. 
     
    Canada pledged $30 million, Turkey $2 million, Sri Lanka $2.5 million, Australia $6 million and Germany 30 million Euros ($33.58 million).
     
    The Asian Development Bank pledged support of $600 million. EU pledged an additional support of 100 million euro ($111.94 million) as grant assistance.
     
    Earlier on Tuesday, the World Bank had said that it would provide up to $500 million to finance the reconstruction of Nepal.
     
    Meanwhile, Brazil, Kuwait and Saudi Arabia have assured to support Nepal's recovery bid but have not announced their contributions towards the effort.
     
    The high-profile international donors conference drew over 300 delegates from 60 nations, development partners and donor community, including Indian Minister for External Affairs Sushma Swaraj and Chinese Foreign Minister Wang Yi.

    MORE International ARTICLES

    Kung Fu Nuns Rebuilding Quake-Ravaged Nepal

    Kung Fu Nuns Rebuilding Quake-Ravaged Nepal
    Trained in the ancient Vietnamese martial arts and second to none, these softhearted Buddhist nuns are fighting against all odds to help Nepal get back on its feet after last month's devastating quake and a series of aftershocks.

    Kung Fu Nuns Rebuilding Quake-Ravaged Nepal

    US Lawmaker Loretta Sanchez Apologises For Indian 'War Cry', Indian-Americans Shocked

    US Lawmaker Loretta Sanchez Apologises For Indian 'War Cry', Indian-Americans Shocked
    A veteran US house member who stirred a major controversy by making a gesture mocking native Americans or American Indians, has apologised even as a shocked Indian-American community expressed outrage.

    US Lawmaker Loretta Sanchez Apologises For Indian 'War Cry', Indian-Americans Shocked

    Bobby Jindal Testing Waters For 2016 Presidential Run

    Louisiana's Indian-American Governor Bobby Jindal has taken another step towards a possible 2016 presidential run by forming an exploratory committee and launching a national website, www.bobbyjindal.com.

    Bobby Jindal Testing Waters For 2016 Presidential Run

    New Zealand-based Indian Nationals Targetted For Immigration Scam

    New Zealand-based Indian Nationals Targetted For Immigration Scam
     Indians in New Zealand have been warned following reports of a scam with callers posing as immigration officials demanding money against deportation threats, a media report said on Monday.

    New Zealand-based Indian Nationals Targetted For Immigration Scam

    Wooing Indian Americans, US Lawmaker Loretta Sanchez Offends American Indians

    Wooing Indian Americans, US Lawmaker Loretta Sanchez Offends American Indians
    California Democrat Loretta Sanchez, who is opposing the state's Indian-American attorney general Kamala Harris for the party's nomination for a 2016 Senate run, was caught on cell phone video raising her hand to her lips to make a typical native Indian 'war cry.'

    Wooing Indian Americans, US Lawmaker Loretta Sanchez Offends American Indians

    Canada Urged To Press Saudi Arabia On Alleged Cluster Bomb Use In Yemen

    Canada Urged To Press Saudi Arabia On Alleged Cluster Bomb Use In Yemen
    OTTAWA — Advocates against the use of cluster bombs say Canada has an obligation to publicly warn Saudi Arabia, its military partner in a bombing campaign in Syria, to refrain from using banned munitions.

    Canada Urged To Press Saudi Arabia On Alleged Cluster Bomb Use In Yemen