India releases Rs 3.10 billion as part of its post-earthquake reconstruction support

Export Import Bank of India (EXIM Bank of India) – on On behalf of the Indian government – has released Rs 3.10 billion to Nepal from concessional Line of Credit (LoC) towards reimbursement of third tranche of housing reconstruction in Nuwakot and Gorkha districts.
“$50 million from Line of Credit was pledged to support the reconstruction of 50,000 private houses in Nuwakot and Gorkha districts in Nepal, according to a press note issued by the Indian Embassy in Kathmandu. “In addition, India committed $100 million as a grant for supporting these houses.”
So far, India has reimbursed Rs 6.96 billion (approx $69.6 million) towards reimbursement of first and second tranches to home owners. “The support by the Government of India also includes the provision of Socio-Technical Facilitation to the home owners to encourage them to rebuild their homes as per the Government of Nepal’s earthquake-resilient norms,” according to the embassy.
The embassy also informed that the Government of India is committed to continue supporting the people and Government of Nepal for completion of post-earthquake reconstruction projects in Nepal.

India hands over Rs 1.6 billion for reconstruction

The Indian government today handed over Rs 1.6 billion to the Nepal government as reimbursement of part payment of the first and second tranches of reconstruction to 50,000 housing beneficiaries in Nuwakot and Gorkha districts.
Indian ambassador to Nepal Manjiv Singh Puri handed over a cheque to finance secretary Rajan Khanal in the presence of finance minister Dr Yubaraj Khatiwada at a programme organised in the capital. 
India has so far reimbursed a total of Rs 4.5 billion to Nepal, according to a press release issued by the Indian Embassy in Kathmandu. “The Indian government has partnered with the United Nations Development Programme (UNDP) and the United Nations Office for Project Services (UNOPS) for providing socio-technical facilitation to beneficiaries to ensure rebuilding of houses according to the Government of Nepal’s earthquake resilient norms.”
Khanal – after receiving the cheque – expressed appreciation towards the Government of India for India’s sustained and generous humanitarian support extended in post-earthquake reconstruction.
On the occasion, the Indian Ambassador expressed his gratitude to the Nepal Government for the partnership and assured that India will remain committed to the completion of Nepal’s earthquake reconstruction activity.
Earlier in February 2016, Nepal and India also signed a Memorandum of Understanding (MoU) worth $100 million for the reconstruction of 50,000 private houses in the aforementioned districts.