Over $3 billion for Nepal

International Community has pledged more than US$ 3 billion for Nepal's reconstruction at a conference in Kathmandu on Thursday.

In the opening ceremony of International Conference on Nepal's Reconstruction, five countries, India's External Affairs Minister Sushma Swaraj pledged US$ one billon, one fourth of which would be provided as a grant and the remaining would be given as a concessional loan.

"We expect that these amounts will significantly help the quickest possible recovery and reconstruction efforts of the Government and people of Nepal," said Swaraj before returning to India.

She added, "We also hope that early implementation of important projects such as Pancheshwar, Arun III and Upper Karnali Hydropower Projects and Nijgarh Airport and Kathmandu-Nijgarh Fast Track Road Projects will create new avenues for people’s livelihood, enhance Government’s revenue and contribute towards speedy post quake recovery and rehabilitation."

China pledged US$ 460 million, followed by Japan (US$260 millon), US (US$130 million), European Union (US$ 112 million) and Norway (US$ 13 million). World Bank and Asian Development Bank have pledged US$ 500 million and US$600 million respectively.

Ministers from Sri Lanka, Bangladesh and Bhutan also pledged their support but did not speak about the figures.

In the ongoing business session that followed the inaugural ceremony, more countries are pledging their support.

Nepal needs at least US$ six billion to rebuild public and individual houses, agriculture, health, education and tourism sectors damaged by the 25 April earthquake.