Tuesday, April 14, 2026
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

    Pakistan to name new ISI chief soon: Report

    Pakistan to name new ISI chief soon: Report
    At a time when the Pakistan Army is being viewed as again meddling in politics, the country's top spy agency -- Inter-Services Intelligence (ISI) -- may get a new...

    Pakistan to name new ISI chief soon: Report

    US media sees much at stake in Xi's India visit

    US media sees much at stake in Xi's India visit
    As the US reiterated that it wanted India to have friendly relations with China, the US media suggested that there was much at stake in Chinese President....

    US media sees much at stake in Xi's India visit

    Revealed: What sets tectonic plates in motion

    Revealed: What sets tectonic plates in motion
    The mystery of what kick-started the motion of our earth's massive tectonic plates across its surface has been solved by researchers at the University of Sydney....

    Revealed: What sets tectonic plates in motion

    Murder case registered against Pakistani PM

    Murder case registered against Pakistani PM
    Police Wednesday registered murder cases against Pakistani Prime Minister Nawaz Sharif and several of his ministers in the killing of opposition...

    Murder case registered against Pakistani PM

    Sino-Indian cooperation invaluable: Chinese daily

    The India-China relationship is of enormous strategic value, one that cannot be replaced by other bilateral ties, a leading English daily of China...

    Sino-Indian cooperation invaluable: Chinese daily

    Bobby Jindal to decide on presidential run after November

    Bobby Jindal to decide on presidential run after November
    Louisiana’s Indian-American Republican Governor Bobby Jindal has acknowledged that he’s considering a 2016 run for president, and will make...

    Bobby Jindal to decide on presidential run after November