Indian govt releases $27.9mn to Nepal for reconstructing of earthquake-affected houses

The Indian government has released USD 27.9 million to the Government of Nepal as concessional Line of Credit towards reimbursement of 3^rd tranche of housing reconstruction in Nuwakot and Gorkha districts.

EXIM Bank of India released the amount on Wednesday, November 13 on behalf of the Government of India.

India had pledged USD 50 million from Line of Credit to support reconstruction of 50,000 private houses in Nuwakot and Gorkha districts damaged in 2015 devastating earthquake in Nepal. In addition, India committed USD 100 million as grant for supporting these houses.

So far, the Government of India has reimbursed USD 69.6 million towards reimbursement of first and second tranches to home owners.