Japan formalizes assistance for earthquake recovery

Kathmandu December 22- Japan signed an agreement with Nepal to provide Rs 26.19 billion (Japanese Yen 30 billion) for the post-earthquake reconstruction on Monday, becoming the first bilateral donor to formalise the pledge it had made during a donors’ conference in Kathmandu in June.

The Japanese aid consists of a loan assistance of Japanese Yen 14 billion for the Emergency School Reconstruction Project, Japanese Yen 12 billion for Emergency Housing Reconstruction Project and Japanese Yen 4 billion grant assistance for reconstruction of Paropkar Maternity and Women’s Hospital, rehabilitation of water supply system in Sindhupalchowk and construction of a bridge along Barhakilo Barpak road in Gorkha district, the Ministry of Finance (MoF) stated in a press release.

Finance Secretary Lok Darshan Regmi and Japanese Ambassador to Nepal Masashi Ogawa signed the exchange of notes regarding loan and grant agreement on Monday at the Ministry of Finance. Similarly, Joint Secretary Madhu Marasini at the Ministry of Finance and Tsutomu Shimizu, chief representative of Jica Nepal office signed the loan agreement on the behalf of the respective governments.