Nepal: IMF rejects debt relief request

By June 30, 2015
(Photo courtesy Asian Access)

(Photo courtesy Asian Access)

Nepal (ANA/MNN) — Nepal won’t be getting debt relief from the International Monetary Fund, after all.

Why? According to the IMF, the April 25 earthquake killed more than 8,600 people and destroyed over 500,000 homes. However, the IMF determined that the damage to the infrastructure did not cause enough economic damage for Nepal to be eligible for funding from the Catastrophe Containment and Relief Trust.

Their rules state that the disaster must impact at least one-third of the country’s population and either destroy 25% of the nation’s productive capacity or cause damage equal to the size of the country’s economy. Nepal met the first condition, but apparently, according to the IMF, not the second.

Aid groups are in disbelief, given the scope of devastation in the country, especially in the rural areas. About two-thirds of the $6.7 billion that was estimated to rebuild came in aid pledges from around the world.

Asian Access president Joe Handley says he’s seen firsthand the destruction of Hurricane Katrina and Japan’s triple disaster. By comparison, “I’ve never seen such devastation as when visiting the countryside of Nepal this June. The pictures that I and others have shared don’t begin to capture the extent of the catastrophe.”

He says there’s good news too. “In spite of all of the challenges, the work of Christ is alive and well.”

(Photo courtesy Asian Access)

(Photo courtesy Asian Access)

Asian Access Nepal leaders say they’ve reached 13 earthquake-devastated districts, reached out to 6500 people, and built two schools. The ministry plans to provide long-term help for partners in Nepal. Right now, they’re focused on the assembly and distribution of Family Rebuilding Packages.

You have an opportunity to provide basic assistance, encouragement, and most importantly, the love of Christ to the people of Nepal. For just $130 per package, Asian Access colleagues can provide the following to help a family of 6 get back on their feet:

  • Tin sheets and bamboo poles to construct a simple shelter
  • A supply of rice, lentils, cooking oil, and salt
  • Bowls, plates, utensils, etc.
  • Towels
  • Soaps – for personal washing and for clothes washing
  • Blankets to provide flooring and bedrolls
  • Mosquito nets
  • Candy for the kids

If you’d like to help provide Family Rebuilding Packages, you can give here. Just click the Nepal Earthquake Relief designation.

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