EU Transfers Rs. 4.8 Billion Grant To Nepal’s Earthquake Reconstruction

EU Transferred A Rs.4.8 billion Grant To Nepal’s Government for sustainable earthquake reconstruction

Oct. 16, 2017, 12:12 p.m.

The European Union (EU) has provided the Government of Nepal with a budget support grant of EUR 40 Million (NPR 4.8 Billion) for reconstruction. This is the second tranche of the EUR 105 million Nepal - EU Action for Recovery and Reconstruction (NEARR) programme and follows an earlier disbursement of EUR 50 million made in July 2016. The grant was released against a set of performance indicators and provides the means to accelerate reconstruction efforts. Budget support uses country owned-mechanisms to give money directly; it reduces transaction costs, strengthens government systems and fosters self-reliance.

"The EU congratulates the Nepali authorities and all stakeholders involved for the progress made so far in advancing reconstruction under the coordinating role of the National Reconstruction Authority (NRA).  It is important that the current momentum be maintained and indeed increased in the time ahead so as to "build back better" for the benefit of the Nepali people including the most vulnerable." said EU Ambassador designate Veronica Cody. The decentralization under way in Nepal will provide opportunities to involve the newly elected Local Governments in accelerating reconstruction. Since the education sector was the public sector most severely affected by the earthquakes it is vital that specific attention is paid to rebuild safer schools as quickly as possible.

According to a press release issued by Delegation of the European Union to Nepal, the EU will remain engaged to contribute to these tasks through measures which are complementary to the NEARR program - notably the NEARR Technical Assistance Facility and the accountability initiative with Transparency International Nepal - as well as through ongoing policy dialogue and a new budget support program in the education sector. 

 

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