Close X
Thursday, December 12, 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

    Why Does Obama Avoid Mentioning 'Islamic' Terrorism? Ask Bush's Speechwriter

    Why Does Obama Avoid Mentioning 'Islamic' Terrorism? Ask Bush's Speechwriter
    WASHINGTON - Why is President Barack Obama so hesitant to talk about Islamic extremism — the question is being raised repeatedly these days by many of his Republican opponents who accuse him of chronic political correctness or, worse, of softness on terrorism.

    Why Does Obama Avoid Mentioning 'Islamic' Terrorism? Ask Bush's Speechwriter

    Indian-American Professor Gets Top Us Chemistry Award

    Indian-American Professor Gets Top Us Chemistry Award
    Purnendu Dasgupta, a Jenkins Garrett professor of chemistry at The University of Texas at Arlington, has been awarded the 2015 American Chemical Society Division of Analytical Chemistry J. Calvin Giddings Award for Excellence in Education.

    Indian-American Professor Gets Top Us Chemistry Award

    Exploited Indian Workers Win $14 Million In U.S. Labour Trafficking Case

    Exploited Indian Workers Win $14 Million In U.S. Labour Trafficking Case
    After seven long years, five Indian 'guest' or temporary workers who were allegedly defrauded and exploited in a labour trafficking scheme have won $14 million in compensatory and punitive damages by a US court.

    Exploited Indian Workers Win $14 Million In U.S. Labour Trafficking Case

    Indian-American Dentist Charged After Patient Dies While Having 20 Teeth Pulled In One Sitting

    Indian-American Dentist Charged After Patient Dies While Having 20 Teeth Pulled In One Sitting
    An Indian-American dentist has been charged with homicide a year after the death of a patient who became unresponsive while having 20 teeth pulled and several implants installed, according to a media report.

    Indian-American Dentist Charged After Patient Dies While Having 20 Teeth Pulled In One Sitting

    Humanitarian Visa Sought For Attacked Indian's Wife

    Humanitarian Visa Sought For Attacked Indian's Wife
    A noted Indian-American lawyer has sent a letter to US Secretary of State John Kerry to issue a humanitarian visa to the wife of an Indian grandfather assaulted by an Alabama policeman.

    Humanitarian Visa Sought For Attacked Indian's Wife

    Indian-American Rashad Hussain Named US Strategic Counter Terrorism Communications Envoy

    Indian-American Rashad Hussain Named US Strategic Counter Terrorism Communications Envoy
    Rashad Hussain, of Indian heritage, has been appointed as US envoy and coordinator for Strategic Counter-Terrorism Communications to expand international engagement and partnerships to counter violent extremism.

    Indian-American Rashad Hussain Named US Strategic Counter Terrorism Communications Envoy