World Bank pledges up to $500 mln for Nepal

The World Bank said it would contribute half billion dollars to help Nepal rebuild homes in rural areas and gives $100 million directly to Nepal's government.

World Bank pledges up to $500 mln for Nepal

World Bulletin / News Desk 

The World Bank on Tuesday pledged up to half a billion dollars to help Nepal rebuild after two earthquakes killed nearly 9,000 people there in April and May, leveling homes and pushing hundreds of thousands of people deeper into poverty.

The World Bank, a global development lender based in Washington, said it would contribute $200 million to rebuild homes in rural areas and $100 million directly to Nepal's government.

Another $100 million to $200 million can be redirected from existing projects in Nepal to focus on reconstruction, the bank said, adding the funds will be replaced.

Nepal said reconstruction from its worst disaster on record would cost some $6.6 billion over five years, and asked international donors to attend a conference this week to help.

Aid from donors including the World Bank and Asian Development Bank already supports two-thirds of Nepal's economic development.

The World Bank normally focuses on the longer-term reconstruction that follows humanitarian aid, but has been quick to jump in with emergency funds in recent years, pledging at least $400 million last year to help West African countries contain the spread of the deadly Ebola virus.

Güncelleme Tarihi: 23 Haziran 2015, 11:30
YORUM EKLE