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European Union Aid Package to Nepal

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Kathmandu, April 28 : The European Union (EU) offered an aid package of Rs. 9.8 billion (75 million euros) to Nepal to tackle the outbreak of the corona virus pandemic and mitigate its impact. The support combines redirected existing commitments with new funds, granted in the form of budget support to allow the government direct and swift access to this financing.

The contribution is done mainly to support the efforts of the government to respond effectively to this crisis, so that the impact on the most vulnerable is reduced. Across the world, the EU is ensuring that partner countries are able to fight the corona virus pandemic and its consequences.

In Nepal, the EU is mobilizing Rs. 9.8 billion (75 million euros) of which Rs 7.2 billion (55 million euros) is a reorientation of existing funds and Rs. 2.6 billion (20 million euros) represents a new commitment. The EU’s support will be directed at two areas: Assisting the Nepali authorities to respond to the immediate health crisis and boosting the country’s economic response and recovery.

The EU will give Rs 1.6 billion (12 million euros) to support the government’s health and preparedness plan. These funds are being made available either by topping up resources for already existing projects focusing on the health sector, or by reorienting resources to other projects that would integrate health related activities and crisis response, including tackling gender-based violence.

By stimulating the economy and labor demand, through support to people’s incomes, employment retention and the extension of social protection programs that assist the most vulnerable, the European Union hopes to assist the government’s economic recovery plan, the release adds.

The European Union has also contributed Rs 14.9 billion (113.5 million euros) to the World Health Organization to support countries under particular strain and with weaker health systems, including Nepal.

Source: THT