International Donors Pledge $4.4 billion for Rebuilding Nepal

KATHMANDU: International donors have pledged around $4.4 billion to rebuild Nepal and carry on the reconstruction projects during International Donors Conference held in Kathmandu, 25 June 2015. Around 300delegates from 60 countries and multilateral agencies along with Minister for Finance Dr Ram Sharan Mahat, Minister for Foreign Affairs Mahendra Bahadur Pandey and Prime Minister Sushil Koirala were present in the International Conference. According to Finance Minister Ram Sharan Mahat, out of $4.4billion $2.2 billion were in the form of grants and other $2.2 billion were promised in the form of loan.

Post Disaster Need Assessment (PDNA) report as prepared by Planning Commission of Nepal had showed that Nepal needs around $6.7 billion to recover from the devastating earthquake in which more nearly 9000 people lost their lives leaving millions of homes in need of food and shelter. During the International donor’s conference, India, China and Asian Development Bank were top on donors list. Foreign Minister of India, Sushma Swaraj promised assistance of $1billion financial support for reconstruction while China pledged $483million help in grants. Similarly, $600million from Asian Development Bank, $260million from Japan, $130million from United States, $100million from European Union, $110 million form United Kingdom, formerly promised $500 million from World Bank and promises from other countries like Pakistan, Bangladesh, Sri Lanka, Germany, Norway, South Korea, Switzerland, Finland and Turkey makes total pledged amount of $ 4.4 billion approximately.

In the conference, Prime Minister Sushil koirala urged foreign donors and delegates to work with Government of Nepal in-order to help and support Nepal and Nepalese. He also added that corruption will not be tolerated and said all aid money would go to those affected by an earthquake.

Source: thehimlayantimes.com, theguardian.com, icnr2015.mof.gov.np