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

    Pope Francis describes modern slavery as crime against humanity

    Pope Francis describes modern slavery as crime against humanity
    Pope Francis on Tuesday characterized all forms of modern slavery, including prostitution and human trafficking, as crimes against humanity....

    Pope Francis describes modern slavery as crime against humanity

    Foreign IS recruits no longer find jihad glamorous

    Foreign IS recruits no longer find jihad glamorous
     Jihadis, who travelled to Iraq and Syria to join the Islamic State (IS) are begging to be allowed to return home, complaining they were forced to do menial task...

    Foreign IS recruits no longer find jihad glamorous

    Britain Should Double Intake Of Indian Students

    Britain Should Double Intake Of Indian Students
    Student mobility is a proven means of building long-lasting relations between countries. There is no better opportunity for India and Britain to further this cause than now when our two countries mark the 400th year of direct relations.

    Britain Should Double Intake Of Indian Students

    Firing on India-Pakistan border in Kashmir

    Firing on India-Pakistan border in Kashmir
    Pakistan Rangers and the BSF Sunday traded gunfire after the former fired at Indian positions along the Jammu and Kashmir border, police said....

    Firing on India-Pakistan border in Kashmir

    Pope calls for full Christian unity

    Pope calls for full Christian unity
    Pope Francis and Ecumenical Patriarch Bartholomew I Sunday prayed in the Turkish city of Istanbul for unity between Catholics and the Orthodox Christians....

    Pope calls for full Christian unity

    Muslims face worst job discrimination in Britain

    Muslims face worst job discrimination in Britain
    Muslims in Britain constitute the worst off community when it comes to employment opportunities, a new research has found, according to media...

    Muslims face worst job discrimination in Britain