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India releases USD 27.9 million to Nepal for reconstruction of houses damaged in 2015 earthquake

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The Government of India has released USD 27.9 million to Government of Nepal as concessional Line of Credit towards reimbursement of 3rd tranche of housing reconstruction in Nuwakot and Gorkha districts.

EXIM Bank of India released the amount on Wednesday on behalf Indian Government.

India had pledged USD 50 million from Line of Credit to support reconstruction of 50,000 private houses in Nuwakot and Gorkha districts damaged in 2015 devastating earthquake in Nepal. In addition, India committed USD 100 million as grant for supporting these houses.

So far, Government of India has reimbursed USD 69.6 million towards reimbursement of first and second tranches to home owners.

The support by Government of India also includes 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.

Government of India remains committed to continue supporting the people and Government of Nepal for completion of post-earthquake reconstruction projects in Nepal.