Nepal receives Rs 2.1 billion reconstruction grant from India
Published     27 July, 2018


Kathmandu, July 27

Nepal has received a grant of Rs 2.1 billion from the government of India for reconstruction of private housing under the cooperation pledged for post-earthquake reconstruction projects.

In an event held here today, Ambassador of India to Nepal Manjeev Singh Puri handed over a cheque of the said amount to Finance Secretary Rajan Khanal for reimbursement of first tranche of housing support to 42,086 housing beneficiaries in Nuwakot and Gorkha districts supported by Indian government.

On February 20, 2016, as part of India’s commitment towards Nepal’s post-earthquake reconstruction, both the countries had signed a memorandum of understanding (MoU) for grant of $100 million to support reconstruction of 50,000 private houses in Nuwakot and Gorkha districts.

In September 2016, both the countries had agreed to utilise an additional amount of $50 million from the $750 line of credit towards payment of third tranche of housing grant to 50,000 housing beneficiaries supported by the government of India.

Read full article here.