India releases Rs 3.10 billion as part of its post-earthquake reconstruction support to Nepal
November 13, 2019 08:11 PM NPT
KATHMANDU, Nov 13: On behalf of the Indian government, EXIM Bank of India has released Nepali rupees 3.10 billion to Government of Nepal from concessional Line of Credit towards reimbursement of 3rd tranche of housing reconstruction in Nuwakot and Gorkha districts.
USD 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 release issued by Indian Embassy in Kathmandu.
In addition, India committed USD 100 million as a grant for supporting these houses.
So far, India has reimbursed NPR 6.96 billion (approx USD 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 stated 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.