International community commits $4 billion for reconstruction

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India- $1, China- $760m, ADB- $600m, WB- $500m, Japan- $260m, US- $130m, EU- $110m, Norway- $30m

Countries, donor and international agencies participating in the International Conference on Nepal's Reconstruction, organized by Nepal's government to seek fund for the country's reconstruction in the aftermath of the destructive quake, have pledged $4 billion (Rs 400 billion) in assistance.

India has extended the biggest support, with $ 1 billion in assistance, a fourth of which is a grant.

India's Minister for External Affairs announced the assistance in her address to the Conference this morning.

Likewise, Nepal's northern neighbor China pledged $760 million support. Foreign Minister of the People’s Republic of China, Wang Yi announced the support in his address to the Conference. The amount will be provided in different phases, with the support in the first phase (2016-2018) comprising nearly $500 million. 

Likewise, World Bank (WB) has extended $500 million in support for Nepal's reconstruction. Chairman of the WB announced the aid in his video address to the International Conference. Of the total assistance, $200 million is meant for the reconstruction of infrastructure, while $100 million will be supported through budget.  

Similarly, European Union (EU) said it will provide $110 million in grant. An EU representative announced the support during an address to the International Conference on Nepal's Earthquake.

Asian Development Bank (ADB) pledged $ 250 million in assistance, which will comprise $200 million of soft loan for reconstruction of infrastructure and $50 million of budget grant. ADB said the assistance might later extend to up to $600 million. 

The government of United States of America announced $130 million. American Ambassador to Nepal, Peter W Bodde announced the support by reading America's Foreign Secretary John Kerry's written statement in the Conference.

Scandinavian country Norway has pledged $30 million for Nepal's reconstruction. Minister for Foreign Affairs of Norway, Borge Brende announced the support during his address to the Conference.

Likewise, Japan pledged $260 million. State Minister for Foreign Affairs of Japan, Minoru Kiuchi announced the support in his address to the Conference.


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