Speaking in a meeting hosted by the Ministry of Finance here on Friday, the representatives of the donor agencies said Nepal had to bear unimaginable loss of human life and damage to physical infrastructure due to the devastating tremor. Finance Minister Ram Sharan Mahat chaired the meeting.

The donor agencies said they would provide the financial, technical and in-kind support based on the procedure to be prepared after the Post-Disaster National Assessment (PDNA).

In the meeting, Finance Minister Mahat shared about the extent of damage caused by the earthquake and the initiatives undertaken by the government, stating that short term and long term support was needed. He added that short term support was needed immediately to fulfill the basic needs while the long term support would be required for the reconstruction. He said the government was working on a long term plan for the same.

While expressing the determination to reach the assistance provided by the donor agencies to the quake affected people in a transparent manner, the Finance Minister said, "Transparency would be maintained for every rupee received in the name of relief to the earthquake victims and the amount would be audited." He said a norm has been maintained that the assistance received as relief would not be used for administrative and other expenses. He also assured that the government would not do so.

Stating that rumors have been spread by some quarters that the funds meant for relief to the quake victims would be misused if spend through the government mechanism, the Finance Minister took strong exception to this.

"There are many mechanisms to monitor the people-elected government; things should not be misinterpreted," he added.

Finance Minister Mahat said an international conference would be held before the budget for the coming fiscal year is brought and call for assistance made in that conference and the budget formulated accordingly.

The government is preparing to convene the conference in the third or the last week of June taking into consideration the tabling of the budget for the next fiscal year during the second week of July.

The Finance Minister stated that the preliminary estimated cost for the reconstruction is over Rs 500 billion, adding that works have been started by setting up a fund of Rs 200 billion for the time being.

Finance Minister Dr Mahat argued that bringing the flagging economy back on track was very challenging since the national economy was adversely affected by the quake. The Minister opined that the quake would continue to take the toll on the country's economy in the next fiscal year too.

He assured that the government would carry out reconstruction of the damaged physical infrastructures in the country as per the world renowned PDNA.

On the occasion, Govindaraj Pokharel, the Vice-chairman of the National Planning Commission, shared that the government would temporarily manage the disasters ensued by the earthquake by formulating transitional plan.

Expressing the belief that the State would leave no stone unturned to maintain accountability and transparency, Pokharel also commended all the donor agencies supporting in the reconstruction drive.

Similarly, Suman Prasad Sharma, Secretary at the Ministry of Finance, shared that although many individuals and organizations pledged their support for the reconstruction drive, not a single person or organization had come in the direct contact of the State with a clear plan.

According to Sharma, various discussions were being held with the stakeholders whether to set up a new ministry or a Development Authority to deal with the disaster and its aftermath.

Likewise, on the behalf of donor agencies, the Swiss Ambassador to Nepal, Urs Herren reaffirmed the commitment of the donor agencies for the support of all sorts to Nepal, reeling under the aftermath of quake. According to him, some 300,000 quake-hit people were in immediate need of the basic daily consumer items.

Envoy Herren also assured the Government of Nepal for the donor agencies demonstrative support in both, pro-tem and long term manner.

In the similar vein, Japanese Ambassador to Nepal Masasi Ogawa also pledged Nepal support to all extent for the reconstruction of the historic and public infrastructures.

Takuya Kamata, the World Bank's Country Manager for Nepal, also reassured of the European Union, United Nations Organisation and the World Bank group's unstinted support to Nepal.

The USAID and International Monetary Fund (IMF) among other donor agencies also pledged financial and material support to Nepal.