The magnitude 7.8 earthquake on April 25 was followed by a magnitude 7.3 quake on May 12. Many lives were lost and countless structures have been damaged, and if Nepal is to regain even a fraction of its old self, it needs help and support from all its neighbors and well wishers. Thus the conference held a lot of importance for Nepal and a separate secretariat had been set up at the Ministry of Finance to oversee its preparations.
External Affairs Minister of India Sushma Swaraj, foreign ministers from China and Norway, finance ministers from Bhutan and Bangladesh and disaster management minister from Sri Lanka were some of the many participants in the international conference held at Hotel Soaltee in the capital. Manisha Koirala, Madan Krishna Shrestha and Hari Bansha Acharya were also seen at the conference.
Around 53 countries and international agencies and 239 representatives attended the conference and the donor countries have pledged over US $3.5 billion in aid with India committing the largest amount – NRs 100 billion (US $1 billion). Prior to the conference, Finance Minister of Nepal, Ram Sharan Mahat had said that Nepal will not only seek grant assistance, but will also welcome soft loans, technical assistance, recommendations and suggestions from the participants.
Chinese Foreign Minister Wang Yi pledged to extend Rs 76 billion or 4.7 billion RMB in both grants and loans. Japan pledged US $260 million and also said it would organize the second donor conference to support Nepal's rebuilding efforts. US Ambassador to Nepal, Peter Bodde, announced an aid of US $130 million to help Nepal recover from the massive devastation.
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