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India gives Nepal 2.1-billion Nepalese rupees aid

India gives Nepal 2.1-billion Nepalese rupees aid
July 28
07:17 2018

Kathmandu, July 28 (IANS) India on Friday extended 2.1-billion Nepalese Rupee (NR) aid to Nepal as reimbursement of the first tranche of housing support to 42,086 government of India-supported beneficiaries in Nuwakot and Gorkha districts.

As part of India’s commitment towards Nepal’s post-earthquake reconstruction, the two countries had signed a Memorandum of Understanding (MoU) for $100-million grant to support reconstruction of 50,000 private houses in the Himalayan nation’s Nuwakot and Gorkha districts.

Indian Ambassador to Nepal Manjeev Singh Puri handed over the amount to Nepal’s Finance Secretary Rajan Khanal.

In September 2016, both countries had agreed to utilize an additional amount of $50 million from the $750 Line of Credit towards payment of third tranche of housing grant to 50,000 hosing beneficiaries supported by the government of India.

As per those previous commitments, India on Friday provided the first tranche to the Nepal government.

India, during the international conference on Nepal’s reconstruction had pledged US $1 billion aid and soft loan. India announced the largest amount in aid — NRs 100 billion (US $1 billion) — for Nepal’s post-earthquake reconstruction. One fourth of the amount has been extended as grant assistance.

The money that ambassador Puri handed over on Friday is part of the Indian aid pledged during the conference. The money will be reimbursed directly to the house owners.

The government of Nepal has expressed its appreciation to the government of India for providing generous humanitarian support for the post-earthquake reconstruction programme and recalled the prompt support from the southern neighbour in the rescue and search operations immediately after the earthquake, a statement issued by the Finance Ministry said.

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