Tuesday, December 23, 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

    US federal court revokes ban on same-sex marriages

    US federal court revokes ban on same-sex marriages
    A federal court in the US has passed a ruling revoking the ban on same-sex marriages in Idaho and Nevada a day after the country's Supreme Court...

    US federal court revokes ban on same-sex marriages

    Ebola Escapes Europe's Defences: Madrid Scrambles To Contain The Virus; Orders Dog Killed

    Ebola Escapes Europe's Defences: Madrid Scrambles To Contain The Virus; Orders Dog Killed
    Health officials scrambled Tuesday to figure out how West Africa's Ebola outbreak got past Europe's defences, quarantining four people at a Madrid hospital where a Spanish nursing assistant became infected.

    Ebola Escapes Europe's Defences: Madrid Scrambles To Contain The Virus; Orders Dog Killed

    Sad that India unable to restrain forces: Pakistan

    Sad that India unable to restrain forces: Pakistan
    Pakistan Tuesday said it is "sad" that India "has not been able to restrain its forces despite strong diplomatic protest by Pakistan" and called upon the Indian government...

    Sad that India unable to restrain forces: Pakistan

    Death of Mountie who drew attention to PTSD a terrible loss: RCMP

    Death of Mountie who drew attention to PTSD a terrible loss: RCMP
    FREDERICTON - The RCMP's commanding officer in New Brunswick says the death of Cpl. Ron Francis, who helped draw attention to the issue of post-traumatic stress disorder, is a terrible loss.

    Death of Mountie who drew attention to PTSD a terrible loss: RCMP

    Modi, Obama have infused 'new energy' into ties: NYT

    Modi, Obama have infused 'new energy' into ties: NYT
    Suggesting that US President Barack and Indian Prime Minister Narendra Modi had infused "new energy" into their stalled bilateral relationship, the....

    Modi, Obama have infused 'new energy' into ties: NYT

    Bill Gates lauds Modi for talking about toilets

    Bill Gates lauds Modi for talking about toilets
    Prime Minister Narendra Modi has done more than any other leader since India's independence to create awareness about the need for toilets, Microsoft...

    Bill Gates lauds Modi for talking about toilets