India pledges 1 billion dollar aid for Nepal's reconstruction

India has pledged an assistance of one billion US dollars to the quake-ravaged Nepal for its massive re-construction programme.
The announcement was made by Union External Affairs Minister Sushma Swaraj during the International Donors’ Conference held in Kathmandu, Nepal.
One fourth of the assistance from India will be grant and it will be part of India’s existing bilateral developmental assistance of another one billion dollars over the 5 five years.
The International Donors’ Conference was organised by the Nepalese government to raise funds to re-build the country. It was attended by several countries including China, Japan and Britain, European Union (UN) besides world agencies like United Nations, World Bank and Asian Development Bank (ADB).
Background
On 25th April 2015, Nepal was struck by 7.9-magnitude devastating earthquake. In this natural disaster around 9,000 people were killed and around 23,000 were injured. It had destroyed lakhs of houses.

Month: Current Affairs - June, 2015