Question: For which amount a loan has been sanctioned by the World Bank recently for the reconstruction of Nepal earthquake?
(a) USD 300 million
(b) USD 400 million
(c) USD 500 million
(d) USD 600 million
Answer: (a)
Related Facts:
- On January 21st, 2018, the World Bank has sanctioned a loan of USD 300 million for Nepal earthquake reconstruction.
- It is significant that the earthquake of 7.8 magnitudes struck in April 2015 which had caused a huge devastation in Nepal.
- This was the most powerful earthquake in Nepal in the last 80 years.
- Earthquake destroyed over 5 lakh homes and killed about 9,000 people.
- So far only 50,000 houses have been rebuilt and Nepal is facing a shortage of USD 1.2 billion in rebuilding funds.
- The loan provided by the World Bank in this context becomes important.
- Nepal estimated the recovery bill from the devastating quake at USD 6.7 billion but costs quickly spiralled.
- The first phase of reconstruction has expired last year.
- In September 2016 the government increased the housing grant by 50 percent, sending costs soaring.
- Nepal National Reconstruction Authority is currently distributing the second installment of the ‘three payments’.
- International donors pledged USD 4.1 billion for reconstruction after the quake the strongest to hit Nepal in 80 years and the World Bank approved a USD 200 million loan at the time.
- The deal Sunday also includes USD 80 million for a livestock project and another USD 60 million credit for vocational training.
Reference:
http://www.newindianexpress.com/world/2018/jan/21/world-bank-signs-usd-300-million-loan-for-nepal-quake-reconstruction-1760544.html
http://www.business-standard.com/article/pti-stories/world-bank-signs-usd-300m-loan-for-nepal-quake-reconstruction-118012100719_1.html
https://eventregistry.org/event/eng-3721407?tab=articles&articlesSortBy=cosSim