Financial Aid Current Affairs - 2019

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India extends financial aid to Nepal for rebuilding earthquake-hit houses

India extended a financial aid of 1.6billion Nepalese Rupees (NPR) to Nepal government for rebuilding earthquake-hit houses in two district that were most hit.

This sustained and generous humanitarian support extended by India for post-earthquake reconstruction was appreciated by Nepal.

Key Highlights

  • Background: In February 2016, a Memorandum of Understanding (MoU) was signed between India and Nepal for grant worth USD 100 Million to be provided by India, for supporting reconstruction of 50,000 private houses in two districts of Himalayan nation namely Nuwakot and Gorkha that were most damaged in earthquake that hit Nepal in 2015.
  • The devastating earthquake which struck Nepal in April 2015, claimed more than 9,000 lives and damaged over 800,000 houses. The epicenter of earthquake was central Nepal’s Gorkha district.
  • Financial Aid: Manjeev Singh Puri, India’s ambassador to Nepal handed over financial aid cheque to Rajan Khanal, Finance Secretary of Nepal for undertaking reconstruction work in Himalayan nation. The amount was released towards reimbursement of part payment of first and second tranches of housing reconstruction extended by Government of India to 50,000 housing beneficiaries in two districts.
  • Importance: The move showed that India remained committed to partnership between two nations and also to completion of post-earthquake reconstruction projects in Nepal.

Other grants by India:

  • So far a total of Rs 4.5 billion Nepalese rupees have been granted Nepal to India under housing reconstruction projects.
  • India has partnered with United Nations Development Programme (UNDP) and United Nations Office for Project Services (UNOPS) for providing socio-technical facilitation to people who lost their houses to ensure that they rebuild their homes in accordance with Nepal government’s earthquake resilient norms.

Month: Categories: InternationalUPSC

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