India announces assistance of Rs 200 billion

25 June, Kathmandu : India has announced an assistance of around Rs 200 billion to help Nepal’s efforts for post-quake reconstruction, recovery and rebuilding.

Indian Minister for External Affairs Sushma Sworaj made the announcement at the inaugural ceremony of the ‘International Conference on Nepal’s Reconstruction-2015′ in the capital today.

She said, “Out of this 10,000 crores amount, equivalent to one billion US dollars, one fourth of it is Grant. This pledge is over and above our existing bilateral development assistance of another one billion US dollars over the next five years, forty per cent of which would be grant.” She added that this takes India’s total assistance to Nepal over the next five years to Two billion US dollars.

Presenting India-Nepal relations as very close and cordial, she announced a soft loan of Rs 200 billion and a grant of Rs 100 billion to Nepal in tackling the crisis-stricken moment.

Asserting that the Indian government and people stand together with the Nepal government and people, Minister Sworaj said, “The ‘Mission Maitri’ immediately put in place for search, rescue and relief operation to respond quake-triggered disaster at the directive of Indian Prime Minister Narendra Modi made clear the priority of India to Nepal”. RSS

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