The European Union has offered a €75million aid package to Nepal to tackle the COVID-19 pandemic and mitigate its impact. The fund will be directed to assist Nepal’s health authorities to respond to the immediate health crisis and to boost the country’s economic recovery.
The relief fund will involve reorienting already existing financial commitments towards the Nepali health sector and crisis response, as well as additional new funding. €55 million out of the total aid to Nepal will be a reorientation of existing commitments, with €20million in additional funding.
The EU delegation in Kathmandu said in a statement on Monday: “While the government’s strict measures to trace, isolate and treat the virus have so far helped to contain the health crisis, such measures will, as in all countries worldwide, have a negative economic impact.”
€12 million from the relief package will be directed towards Nepal’s public health and preparedness plan, and €62.6 million will support a social and economic recovery response.
Impressing upon the importance of international cooperation and solidarity during this time, EU Ambassador Veronica Cody said: “We hope that our contribution will support the efforts of the government to respond effectively to this crisis so that the impact on the most vulnerable is reduced.”
The relief fund is part of the European Union’s €20 billion ‘Team Europe’ package to support immediate health responses to the COVID-19 pandemic and their economic recovery around the world. In addition to its relief efforts, the European Commission is set to host an online pledging conference to support the development of a vaccine on 4 May.