Sunday, December 21, 2025
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

    Indian woman gets life term for killing minor in Dubai

    Indian woman gets life term for killing minor in Dubai
    A 30-year old Indian nanny was sentenced to life by the Dubai Court of First Instance for killing an 11-month old British baby girl in January....

    Indian woman gets life term for killing minor in Dubai

    IS executed 1,434 people in Syria since 'Caliphate' proclaimed

    IS executed 1,434 people in Syria since 'Caliphate' proclaimed
    The Islamic State (IS) Sunni radical group has executed at least 1,434 people in Syria since it proclaimed an Islamic Caliphate over the territory it controls...

    IS executed 1,434 people in Syria since 'Caliphate' proclaimed

    Putin, the 'bad guy' in global diplomacy

    Putin, the 'bad guy' in global diplomacy
    At every summit, Russian President Vladimir Putin plays the role of the "bad guy", whether he offers a shawl to the Chinese first lady or decides to skip...

    Putin, the 'bad guy' in global diplomacy

    India, Australia should cooperate in maritime security: Modi

    India, Australia should cooperate in maritime security: Modi
    In a historic speech in the Australian parliament, Prime Minister Narendra Modi Tuesday termed Australia a major partner of India in "every area of our national priority...

    India, Australia should cooperate in maritime security: Modi

    Recovery of MH17 wreckage to be completed in five days

    Recovery of MH17 wreckage to be completed in five days
    The recovery of the wreckage Malaysia Airlines flight MH17 will be completed in around five days, the Dutch Safety Board, leading the investigation into the...

    Recovery of MH17 wreckage to be completed in five days

    Of 'Narendra' and 'Tony', selfies and hugs

    Of 'Narendra' and 'Tony', selfies and hugs
    Indian Prime Minister Narendra Modi and his Australian counterpart Tony Abbott have built a camaraderie over the past few months, especially the last five days....

    Of 'Narendra' and 'Tony', selfies and hugs