EU pledges €105m grantThe European Union (EU) has pledged a grant assistant of 105 million euros for the post-earthquake rehabilitation and reconstruction.
The European Union (EU) has pledged a grant assistant of 105 million euros for the post-earthquake rehabilitation and reconstruction.
An agreement to this effect was signed by Finance Secretary Lok Darshan Regmi and EU Ambassador to Nepal Rensje Teerink amid a programme here on Sunday.
Of the total amount, the EU will provide 100 million euros (Rs 11.95 billion) for reconstruction of government office buildings, while 5 million euros (Rs590 million) will be for technical assistance.
The EU had pledged the amount during International Conference on Nepal’s Reconstruction held last year.
According to the Finance Ministry, the government will spend the fund for state building contract for the improvement of financial and implementation capacity for recovery and reconstruction. “This could help enhance disaster preparedness and resilience based on Building Back Better principles,” said Regmi.
The ministry said the government would focus on strengthening financial management, accountability and transparency. The government plans to execute the pledged amount in 84 months.