$4.4 bn aid pledged during donor conference

    • India, China & ADB largest donors

    KATHMANDU, JUN 25 – Donor countries have pledged $4.4 billion in aid for the recovery bid of Nepal during the International Conference on Nepal’s Reconstruction being held at Hotel Soaltee in the Capital on Thursday. Of the total amount, donors have pledged $2.2 in grant while the remaining $2.2 in loan.


    In the conference organised to raise fund for the rebuilding the nation ravaged by the deadly earthquake of April 25 and the subsequent aftershocks, India has announced the largest amount in aid—NRs 100 billion ( US $ 1 billion) for Nepal’s post-earthquake reconstruction. One forth of the amount has been extended as grant assistance.

    Likewise, Chinese Foreign Minister Wang Yi pledged to extend Rs 76 billion or 4.7 billion RMB ( US $760 million) both grant and loan. China also offered a concessional loan from Silk Road Fund from China to Nepal’s reconstruction bid. China will offer training opportunities for 1,500 Nepalis over the next year.

    Similarly, Japan announced US $260 million during the conference.  Japan has also assured to organise the second donor conference to support Nepal’s rebuilding effort. Japan will support in repairing cultural heritages, Japan ese State Foreign Minister for Foreign Affairs Minoru Kiuchi said.

    Speaking in the International Conference on Nepal’s reconstruction, the US Ambassador to Nepal, Peter Bodde, announced US aid of $ 130 million for Nepal’s bid to recover from the devestation caused by the recent deadly earthquke and its aftershocks.

    Likewise, Norway has announced US $30 Million (Norwegian Kroner 100 Million), the UK has pledged $110 million, Canada has announced $60 million, Switzerland $25 million, Australia $16 million and South Korea has pledged $10 million for Nepal. Pakistan has pledged $1 million and Austria announced to provide $1.2 million in financial assistance. Similarly, Sri Lanka has pledged $1.5million, Finland $2 million and Turkey has announced $2 million for Nepal’s reconstruction.

    Similarly, Asian Development Bank has pledged support of US $ 600 million.  EU pledged an additional support of $112 million as a grant assistance to create fiscal space.

    Earlier on Tuesday, the World Bank Group (WB) 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 the amount.

    Top brass leaders of all the political parties marked their presence at the conference. The highest-profile international donor conference ever held in the country drew over 300 delegates from 60 nations, development partners and donor community including India n Minister for Foreign Affairs Sushma Swaraj and Chinese Foreign Minister Wang Yi.

    Source : eKantipur