Nepal asks India to support reconstruction after floods — Kathmandu Post
Nepal’s Finance Minister Swarnim Wagle, during a visit to New Delhi, India, asked for support for the reconstruction of property and infrastructure destroyed by floods in the Bhotekoshi area. At a meeting with India’s Finance Minister Nirmala Sitharaman, he said that Nepal was counting on substantial assistance for reconstruction.
As the Kathmandu Post reports, Wagle requested a grant but did not name a specific amount. Sitharaman replied that India would assess Nepal’s needs after the post-disaster needs assessment is completed and would then determine the amount of support.
Damage assessment and reconstruction
Nepalese authorities have instructed that the scale of flood damage be assessed; the final report is expected within four weeks. A committee established by the government is to determine reconstruction and rehabilitation needs in the Rasuwa and Nuwakot districts, which were affected the most.
After the assessment is completed, Nepal plans either to convene a donors’ conference or seek assistance from friendly states, the donor community, and charitable organizations. Aid is also planned to be directed toward creating climate-resilient infrastructure along the Bhotekoshi River.
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Loans after the 2015 earthquake
The sides also discussed negotiations on a line of credit that India offered Nepal about ten years ago. After the 2015 earthquake, New Delhi announced a package of 100 billion Indian rupees: 25 billion rupees as a grant and 75 billion rupees as a concessional loan through the Export-Import Bank of India.
According to the publication, Nepal was unable to use the credit portion because of conditions set by the Indian side. In May, Foreign Minister Shishir Khanal proposed directing these concessional funds to the energy sector. He also proposed that India provide $500 million in grants and another $500 million in concessional loans for infrastructure, including roads and energy, but this proposal is being reconsidered after the floods.
India’s Ministry of Finance said the talks concerned strengthening economic ties, trade, investment, and transport connectivity. Nepal’s Embassy in New Delhi also noted that the sides discussed energy. Sitharaman expressed condolences over the deaths caused by the floods and assured continued support for Nepal’s recovery.
