ADB fast-tracks over USD 200-mn emergency aid for Nepal

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IANS | 27 Apr, 2014
The Asian Development Bank (ADB) announced on Monday more than $200 million in aid for Nepal in response to a 7.9-magnitude earthquake that has caused more than 3,300 deaths and widespread destruction, Efe news agency reported.

ADB president Takehiko Nakao said the bank would immediately release USD 3 million for humanitarian aid efforts, including medical assistance and provision of water, food and shelter for victims.

The Manila-based financial entity said in a statement that it would later contribute another USD 200 million for re-construction work.

"ADB stands together with the people of Nepal and the government at this challenging time, I assure you of our fullest support in the aftermath of the earthquake, for relief, rehabilitation, and reconstruction," Nakao said in a letter to the Nepal government.