Kathmandu, October 16

European Union (EU) has provided Nepal government with a budget support grant of 40 million euros (Rs 4.8 billion) for reconstruction.

This is the second tranche of the 105 million euros Nepal-EU Action for Recovery and Reconstruction (NEARR) programme and follows an earlier disbursement of 50 million euros made in July 2016, as per a media release.

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 National Reconstruction Authority. It’s important that the current momentum be maintained and indeed increased so as to ‘build back better’ for benefit of Nepalis,” EU Ambassador designate Veronica Cody has been quoted as saying in the release.

Since 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, the release says. “The EU will remain engaged to contribute to these tasks through measures which are complementary to the NEARR programme.”