India announces USD 1 billion assistance for Nepal reconstruction

Pic Courtesy: MIB

Kathmandu: India on Thursday announced USD 1 billion assistance for Nepal`s reconstruction, External Affairs Minister Sushma Swaraj announced.

Confirming the development, Vikas Swarup, Official Spokesperson, Ministry of External Affairs, posted a picture of External Affairs Minister Sushma Swaraj addressing the international donors conference here and making the announcement.

EAM announces GoI’s pledge for Nepal’s post-earthquake reconstruction of NR10,000 cr (USD 1 bn); 1/4 of it as Grant pic.twitter.com/onCCcGaPRA — Vikas Swarup (@MEAIndia) June 25, 2015

The announcement from India is significant as Nepal Prime Minister Sushil Koirala had sought aid at an international donors conference here to rebuild the country after it was hit by a devastating quake in April this year.

Koirala inaugurated the conference earlier today and sought donors` help to rebuild the country at an estimated cost of USD 7 billion.

Foreign Minister Sushma Swaraj, who is attending the conference, made the announcement of granting an aid of USD 1 billion in presence of Chinese Foreign Minister Wang Yi and over 300 delegates from 60 nations.

The two-day conference in capital Kathmandu is being organised by the Nepal Government in order raise funds to reconstruct the physical infrastructures of the country destroyed by a massive 7.9-magnitude earthquake on April 25.