ADB pledges $200 Million for reconstruction of Nepal


The Asian Development Bank has pledged USD 200 Million financial aid to Nepal.

Addressing the ADB General Assembly, 4 May 4, 2015 in Baku of Azerbaijan, the ADB president Takehiko Nakao said that the multilateral development bank is going to provide the financial aid for the reconstruction of Nepal ravaged by deadly April earthquake measuring 7.8 magnitude.

“Firstly, I offer condolence to the people of Nepal for the damage and lost relatives,” said Nako and added, “The ADB has already allocated $3 mln financial aid for this country and attracted new resources in the amount of $200 mln for restoration works”.

He continued, “We are ready to provide assistance in this difficult situation.”

Nepal’s Finance Minister Ram Sharan Mahat is presently in Baku to participate in the ‘Partnership with Nepal Forum’ --- who disclosed from his tweeter account that the ADB will be providing the financial assistance for the reconstruction of Nepal.

Minister Mahat also claimed that the Japanese Finance Minister Taro Aso has proposed a donor conference to help Nepal at this time of crisis.

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