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World Bank provides additional Rs. 23 billion for reconstruction

Kathmandu, February 6: The World Bank, which has been providing loan support in the reconstruction of private houses damaged in the April 2015 earthquake, has provided additional support of US$ 200 million. According to today’s exchange rate, this amounts to approximately Rs. 22 billion and 8.2 million rupees.

The agreement was signed between respective representatives from the World Bank and the Nepal government. Joint Secretary of the Ministry of Finance Sri Krishna Nepal and the Country Manager of the World Bank Faris Hadad-Zervos signed the agreement paper amidst a program organized at the Ministry of Finance.

This amount will be used for the grants provided to 86,680 beneficiaries of all the 32 earthquake-affected districts.

“I express heartfelt gratitude on behalf of the Government of Nepal for this support and continued support of the World Bank in post-earthquake reconstruction and rehabilitation,” Joint Secretary Nepal said. “This support will be a big contribution in the commitment of the Government of Nepal to meet the target of private house reconstruction within this fiscal year.”

The World Bank had initially provided a loan support of US$ 200 million on 14 August 2015. Likewise, it had provided an additional US$ 300 million in terms of loan support on 15 December 2017.

Country Manager of the World Bank Zervos said, “We are together with the community of development partners of Nepal to continuously support the efforts of the Government of Nepal to reconstruct the lives of its earthquake-affected citizens.”

While commending the leadership of the NRA for successful implementation of housing reconstruction, he expressed belief that the NRA would complete the remaining task of reconstruction learning from the experience and knowledge gained till now.

The loan support of the World Bank is being mobilized through the Earthquake Housing Reconstruction Program (EHRP) being implemented under the NRA. Under this project, out of 683,367 beneficiaries of 14 most-affected districts, 99 percent have already received the first instalment while 82 percent have received the second and 71 percent have received the third instalment.

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