{"id":33024,"date":"2015-07-07T16:59:00","date_gmt":"2015-07-07T16:59:00","guid":{"rendered":""},"modified":"2020-11-10T11:34:56","modified_gmt":"2020-11-10T11:34:56","slug":"8024-india-and-china-lead-list-of-earthquake-aid-donors-to-nepal","status":"publish","type":"post","link":"https:\/\/dialogue.earth\/en\/uncategorized\/8024-india-and-china-lead-list-of-earthquake-aid-donors-to-nepal\/","title":{"rendered":"India and China lead list of earthquake aid donors to Nepal"},"content":{"rendered":"

Nepal is set to receive an additional $3 billion from other countries to help reconstruction after the 7.9-magnitude earthquake of April 25 that killed an estimated 10,000 people.<\/p>\n

The amount, pledged at a donors\u2019 meeting with the government in Kathmandu late last month, is less than half of what will be needed, according to official estimates. Approximately half the funds will consist of grants, and the rest loans.<\/p>\n

India and China have overtaken developed countries as the big donors, with India pledging over US$1 billion (6.21 billion yuan) and China over $700 million (4.35 billion yuan). In terms of donation size, then came the Asian Development Bank and the World Bank, followed by Japan, US and the European Union.<\/p>\n

China and India both sent their foreign ministers to the donors meeting. Sushma Swaraj, India\u2019s foreign minister, said, \u201cWe are ready to put our shoulders to Nepal\u2019s efforts and no stone would be left unturned to help.\u201d Chinese Foreign Minister Wang Yi said, \u201cWe should take this as an opportunity, and China being a good neighbour will help Nepal to rebuild.\u201d<\/p>\n

Before last week\u2019s meeting, donors had already pledged around $1.4 billion (8.7 billion yuan) to help reconstruction. \u201cThe level of participation and pledges encouraged us and raise our hopes,\u201d said Narhari Acharya, Nepal\u2019s Law Minister.<\/p>\n

The donors\u2019 meeting was preceded by altercations between aid agencies and Nepal\u2019s government.<\/p>\n

Directly addressing the concerns of aid agencies, Prime Minister Sushil Koirala said at the conference, \u201cWe will rebuild Nepal together and Nepal is friend of all. We assure you that no funds will be misused.\u201d<\/p>\n

After the conference, there are two areas of debate in Kathmandu. First, when will the pledges be kept? In this regard, the experience of Nepal \u2013 or any other developing country, for that matter \u2013 does not provide grounds for optimism.<\/p>\n

Second, should so much of the money come as loans? This has evoked mixed reactions, especially in social media. Many observers feel Nepal has no choice but to take these loans. However, it should ask lenders to exempt the government from repayment of loans taken in the past.<\/p>\n

\u201cSupposed not to look a gift horse in the mouth but 50% loans not gifts, surely not good enough \u2013 so demand debt forgiveness,\u201d tweeted David Seddon, Nepal expert in the faculty of University of East Anglia in Britain.<\/div>\n
<\/div>\n
This article appeared originally on chinadialogue’s sister website thethirdpole.net and can be accessed here<\/a>.<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"

China and India step ahead of the developed world in bringing post-earthquake aid to Nepal, but delivery of approximately half the assistance in the form of loans raises concerns<\/p>\n","protected":false},"author":20000200,"featured_media":58053,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[544],"hashtags":[],"country":[],"class_list":["post-33024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-finance"],"acf":[],"yoast_head":"\nIndia and China lead list of earthquake aid donors to Nepal | Dialogue Earth<\/title>\n<meta name=\"description\" content=\"China and India step ahead of the developed world in bringing post-earthquake aid to Nepal, but delivery of approximately half the assistance in the form of loans raises concerns\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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