Foreign donors pledge USD three billion to reconstruct quake-hit Nepal

With the international donors' conference concluding in Kathmandu, foreign donors and agencies have reportedly pledged aid worth USD three billion for Nepal to support reconstruction in the quake-ravaged country.

While addressing the conference, Nepal's Prime Minister Sushil Koirala assured the donors that the details of the funds used will be shared periodically in order to maintain transparency, reported The New York Times.

The country said that the funds will be used effectively.

India, which had mobilised an emergency response after the first massive quake struck the Himalayan nation, was the single largest donor with External Affairs Minister Sushama Swaraj pledging USD one billion for reconstruction at the meeting.

Swaraj said that one fourth of the assistance will be grant and it will be over-and-above India's existing bilateral developmental assistance of another one billion dollars over the next five years.

The conference, organised by the Nepalese Government to raise funds to re-build the country, was attended by several countries, including China, Japan and Britain, besides United Nations, European Union, World Bank and Asian Development Bank (ADB).

Meanwhile, China and Asian Development Bank have pledged an assistance of USD 500 million and USD 600 million respectively.

Around 9,000 people were killed due to the devastating earthquake that hit the Himalayan nation on April 25. Around 23,000 were injured, with lakhs of houses destroyed.