ADB to extend $200m, EU approves €16.6mMore assistance has poured into Nepal, with two leading donors Asian Development Bank (ADB) and European Union (EU) pledging an extra $200 million and 16.6 million euros respectively
The ADB has pledged approximately Rs 20 billion for the reconstruction works, Finance Minister Ram Sharan Mahat tweeted on Monday. Mahat is currently in the Azerbaijani capital Baku to take part in the 48th General Assembly of ADB and to garner international support for Nepal’s rehabilitation and reconstruction efforts.
The ADB funds will be mobilised in new reconstruction projects to be undertaken by the Nepal government, said ministry officials. The government has already announced to set up the National Reconstruction Fund to rebuild the damaged infrastructures, earmarking Rs 20 billion for the fund that aims to collect Rs 200 billion in total.
Mahat also tweeted that Japanese Deputy Prime Minister and Finance Minister Taro Aso had proposed a separate donor conference to raise funds to support Nepal.
Meanwhile, the EU has approved 16.6 million euros in financial assistance to Nepal. The amount will be made available to the government by this week, the union said.
A joint meeting of the EU and UN mission to Nepal also decided on Monday to make available an additional 3 million euros in emergency aid, bringing the total of the commission’s support to 22.6million euros since the earthquake struck.
“This support is an expression of our solidarity with the Nepalese people,” said EU Commissioner for Inter-national Cooperation and Development Neven Mimica in a statement. “It is vital for the Government of Nepal to allow relief efforts to continue, as well as to kick-start rehabilitation work after the devastating earthquake.”