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

    U.S. Congress Again Urged To Oppose Canadian Plan To Bury Nuclear Waste

    U.S. Congress Again Urged To Oppose Canadian Plan To Bury Nuclear Waste
    TRAVERSE CITY, Mich. — The U.S. Congress should officially speak out against the possibility that Canadian nuclear waste will be stored underground near Lake Huron, a Michigan politician said Friday.

    U.S. Congress Again Urged To Oppose Canadian Plan To Bury Nuclear Waste

    Canadian Tourist In Hurry Accidentally Kills Chinese Woman On The Great Wall: Chinese Media Reports

    Canadian Tourist In Hurry Accidentally Kills Chinese Woman On The Great Wall: Chinese Media Reports
    Media reports in China say a Canadian tourist accidentally killed a 73-year-old woman while they were both visiting one of the country's top tourist attractions.

    Canadian Tourist In Hurry Accidentally Kills Chinese Woman On The Great Wall: Chinese Media Reports

    Indian-Origin Man, 64, Kills Grandson In Suspected Murder-Suicide

    Indian-Origin Man, 64, Kills Grandson In Suspected Murder-Suicide
    An Indian-origin man is suspected to have killed his four-year-old grandson in what authorities believe to be a murder-suicide case in South Africa's Gauteng province, media reported.

    Indian-Origin Man, 64, Kills Grandson In Suspected Murder-Suicide

    India Says Lakhvi Release 'Most Negative', France Terms It 'Deeply Shocking'

    India Says Lakhvi Release 'Most Negative', France Terms It 'Deeply Shocking'
    India on Friday registered its strong concerns with Pakistan on the release of 26/11 principal accused Zakiur Rehman Lakhvi and said that it was a "most negative development" for bilateral ties.

    India Says Lakhvi Release 'Most Negative', France Terms It 'Deeply Shocking'

    'Naav Pe Charcha' : PM Modi And Francois Hollande Go On Boat Ride On Seine River

    'Naav Pe Charcha' : PM Modi And Francois Hollande Go On Boat Ride On Seine River
    Prime Minister Narendra Modi, French President Francois Hollande as well as French Foreign Minister Laurent Fabius and senior French government officials went on a boat ride along the Seine river, a la "nav pe charcha".

    'Naav Pe Charcha' : PM Modi And Francois Hollande Go On Boat Ride On Seine River

    As A White Cop Shoots Another Black Man, People Ask Do Black Lives Matter?

    As A White Cop Shoots Another Black Man, People Ask Do Black Lives Matter?
    Do black lives matter, asked horrified Americans as a video showing a white cop in South Carolina shooting a black person running away from him eight times, sparked outrage and fears of another Ferguson.

    As A White Cop Shoots Another Black Man, People Ask Do Black Lives Matter?