Nepal seeks $1800 million from the international community

by ram khatry

4 May 2015 2:20 PM AEST: Nepal has called on the international community to help it put together a fund of $2 billion for the ‘rehabilitation and reconstruction’ of the earthquake-ravaged country.

According to a report of the Asian Development Bank, Nepal’s finance minister Dr Ram Sharan Mahat told a gathering of development partners in Azerbaijan that his government is ‘now preparing the groundwork for medium to long-term reconstruction efforts by setting up a $2 billion National Reconstruction Fund’.

Nepal Earthquake
A completely destroyed home in the idyllic, alpine district of Solu Khumbu. Photo Courtesy: ABC Network

The Government of Nepal has already earmarked $200 million from its ‘own resources’ and now needs its development partners to help with the remaining $1800 million.

“We are counting on our development partners to fill the gap,’’ the ADB report released from Baku quoted Mr Mahat as saying.

He lamented that the ‘momentum’ Nepal had gained so far ‘for the next generation of economic reforms’ have been put on a reverse gear by the 7.9 magnitude earthquake of April 25.

The meeting was jointly chaired by ADB President Takehiko Nakao and Nepal's Finance Minister, Ram Sharan Mahat.
The meeting was jointly chaired by ADB President Takehiko Nakao and Nepal’s Finance Minister, Ram Sharan Mahat.

He told the delegates that the tragedy hit Nepal at a time when the nation had just been ‘gearing up for a higher trajectory of economic growth’ following “decades of policy and political uncertainty’.

ADB has already released a $3 million grant to support the relief operations. It has announced that it will provide up to $200 million of additional resources for reconstruction. It can also reallocate up to $300 million from existing ADB projects in Nepal to the humanitarian cause, the report said.

Information minister Minendra Rijal told media last week that the government would provide $1,000 immediately for every victim killed by the earthquake plus $400 for the last rites.

The April 25 earthquake death toll is now likely to surpass a similar natural disaster (earthquake) which hit Nepal in 1934 when 8,500 people were killed.

A local media reported yesterday that the Nepal government then had provided Rs 100 ($1.22) as relief assistance but things are much different in the expensive world of 2015.

The United Nations has said the earthquake has left 8 million people affected, with at least 2 million people who will need help in the forms of tents, water, food and medicines for at least three months to come.

One thought on “Nepal seeks $1800 million from the international community

  1. No any doubt that the Earthquake of Nepal was too Massive and much too Devastating for our wonderful Nepali Society. Now this has happened in such unfriendly such difficult times upon Global Civil Society when several Nation States and the true state of Global Economy is already registering a Steep Downward Decline and are bracing to cope up with difficulty to Balance thier own Erratic Balance Sheets on all domestic fronts.

    But even despite such impossible factors of unbridgeable Economic Gaps and acute scarcity of Liquidity of Surplus Funds I feel sure that Community Development ngo Sectors and the determined Resolve of the Strong Nepali Community linked together, would sure be able to put this wonderful Himalayas State Kingdom back on the track of Comprehensive, Holistic, Inclusive and Meaningful Developments-much sooner than the later.

    Ashok Sharma
    New Delhi-India
    18 Jan,2016 10pm

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