Reconstruction authority signs pacts with BFIs

Kathmandu, May 30

The National Reconstruction Authority (NRA), today, signed pacts with 29 banks and financial institutions (BFIs) for the distribution of grant amount to the earthquake victims. The beneficiary earthquake victims will be able to obtain the grant from the branches of BFIs in their own locality.

NRA has signed pacts with 29 BFIs based on the MoU signed with the umbrella associations of Class ‘A’, Class ‘B’ and Class ‘C’ financial institutions earlier. The District Development Committees of severely affected 11 districts, excluding Kathmandu Valley, have already published the list of beneficiaries and the NRA had released Rs 12.41 billion for the reconstruction of individual houses.

The government has announced Rs 200,000 grant for the quake victims to rebuild their houses. At present, the quake victims have been receiving first instalment or 25 per cent (Rs 50,000) of the grant amount to start rebuilding their houses. NRA will disburse the remaining tranches in instalments of 30 per cent, 35 per cent and 10 per cent at different stages of house construction.

As per the NRA, Himalayan Bank, Kumari Bank, Lumbini Bank, Prabhu Bank, Global IME Bank, Prime Commercial Bank, Sanima Bank, NCC Bank, Laxmi Bank, Nepal SBI Bank, Janata Bank, Nepal Investment Bank, NMB Bank, Nabil Bank, Civil Bank, Mega Bank, Sunrise Bank, NIC Asia Bank, Citizens Bank and Agricultural Development Banks have signed the agreement.

Similarly, Reliable Development Bank, Infrastructure Development Bank, International Development Bank, Dev Bikas Bank, Supreme Development Bank, Tourism Development Bank, Yeti Development Bank, Triveni Bank and Sagarmatha Finance also inked pacts with NRA for grant distribution.