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

    Stolen Car Linked To Indian's Disappearance In Australia

    Stolen Car Linked To Indian's Disappearance In Australia
    Shiva Chauhan, 27, went missing after carrying out his regular deliveries May 1 last year with his locked van found next day in Keysborough, a suburb of Melbourne.

    Stolen Car Linked To Indian's Disappearance In Australia

    Despicable Terrorist Act: Islamic State Executes Second Japanese Hostage

    Despicable Terrorist Act: Islamic State Executes Second Japanese Hostage
    The Islamic State (IS) militants claimed in a video to have beheaded a second Japanese hostage, according to media reports Sunday. Japanese Prime Minister Shinzo Abe condemned the purported killing as “a despicable terrorist act”.

    Despicable Terrorist Act: Islamic State Executes Second Japanese Hostage

    Over 50 Killed In Pakistan Shia Mosque Attack

    Over 50 Killed In Pakistan Shia Mosque Attack
    More than 50 people were killed and around 50 others injured Friday when a suicide bomber ripped through a Shia mosque in Pakistan's Shikarpur district, media reports said.

    Over 50 Killed In Pakistan Shia Mosque Attack

    Most Americans Know Nothing About Sikhism: Study

    Most Americans Know Nothing About Sikhism: Study
    Although more than half a million Sikhs live in the US, a majority of Americans are unaware of what Sikhism is and some admit wariness when seeing their Sikh neighbours, according to new study.

    Most Americans Know Nothing About Sikhism: Study

    Drone Crash At White House, Pilot Quizzed

    Drone Crash At White House, Pilot Quizzed
    The person operating the drone that crashed on the White House grounds called the US Secret Service to "self-report" their involvement in the incident.

    Drone Crash At White House, Pilot Quizzed

    Alexis Tsipras Sworn In As Greek Prime Minister

    Alexis Tsipras Sworn In As Greek Prime Minister
    The leader of the leftist Syriza formation, Alexis Tsipras, took office Monday as Greece's new prime minister after declining to swear the traditional oath before god and vowing to uphold the constitution to President Károlos Papulias.

    Alexis Tsipras Sworn In As Greek Prime Minister