Japan provides 30 billion Yen (approximately 26 billion Nepalese Rupees) assistance for rehabilitation and recovery from Nepal Earthquake.
Japanese government has signed a Japan’s Official Development Assistance (ODA) loan with the Government of Nepal for up to 26 billion loan Japanese Yen (equivalent to approximately 22 billion Nepalese Rupees) in which JPY 14 billion Japanese Yen (equivalent to approximately 12 billion Nepalese Rupees) for the reconstruction of schools and JPY 12 billion Japanese Yen (equivalent to approximately 10 billion Nepalese Rupees) for housing reconstruction affected by recent earthquake in Nepal.
Similarly, Grant Assistance of JPY 4 billion Japanese Yen (equivalent to approximately3.5 billion Nepalese Rupees) has been signed and exchanged between two governments for "The Project on rehabilitation and recovery from Nepal Earthquake." Those projects are part of 32 billion Yen (equivalent to approximately 27 billion Nepalese Rupees) assistance which was announced by Japanese government at “the International Conference on Nepal’s Reconstruction 2015” on June 25.
Exchange of Notes on the projects were signed and exchanged between Lok Darshan Regmi, Secretary, and Ministry of Finance on behalf of Nepal government and Masashi Ogawa, Ambassador of Japan to Nepal on behalf of Japanese government.
Amid the function, held at the Ministry of Finance in Singha Durbar, the Loan Agreements of the projects were signed and exchanged between Madhu Kumar Marasini, Joint Secretary, International Economic Cooperation Coordination Division (IECCD), Ministry of Finance on behalf of GON and Tsutomu Shimizu, Chief Representative of Japan International Cooperation Agency (JICA) Nepal on behalf of the JICA. Both the agreements are with the condition of 40 years repayment and 10 years grace period with 0.01 % interest annually.
“The emergency school reconstruction project will rebuild and retrofit schools in the districts severely affected by the Nepal earthquake by financing the necessary expense for reconstruction of schools and related facilities, thereby contributing to the improvement of education service and earthquake resilience for sustainable socio-economic growth,” said the press release issued by Japanese Embassy.
Likewise, the emergency housing reconstruction project will restore and improve the living condition of the victims of Nepal earthquake by reconstructing the destroyed and damaged houses with an adequate seismic standard thereby contributing to sustainable socioeconomic development in the region with Build Back Better (BBB) concept.
As Nepal has announced Rs. 200,000 to build the damaged houses as grant, JICA will provide this loan so that Nepal government can provide the grant to the victims. The reconstruction work of schools building and housing will carried on 14 districts in which JICA will reconstruct school building in 6 districts namely Lalitpur, Dhading, Nuwakot, Rasuwa, Gorkha, and Makwanpur and housing on 2 districts Sindupalchowk and Gorkha which were most affected by the Nepal Earthquake.
Similarly, Grant Assistance will be used for the reconstruction of Paropakar Maternity and Women’s Hospital, Bir Hospital, rehabilitation of Water Transmission System in Chautara and bridge construction along Barhakilo-Barpak road.
April 25th 2015 and subsequently May 12th 2015, Mg 7.8 and Mg. 7.3 earthquakes inflicted damage of more than 8, 700 casualties and 22,000 injuries. According to Post Disaster Risk Assessment report, 8242 schools were destroyed and damaged and 500,000 houses were destroyed and 250,000 houses were damaged. Immediately after the earthquake it is crucial for Nepal to rehabilitate and reconstruct the lost and damaged properties. Among others, school building, housing, hospitals and water supply recovery is a crucial demand. These projects are to immediately mobilize the financial resources for reconstruction of the school building and housing affected by the earthquake with BBB concept and manners. JICA is pleased to realize the pledged assistance for the reconstruction after the great earthquake by signing these agreements.