May 15: Financial assistance from International Non-Governmental Organizations (INGOs) in the non-governmental sector has declined by almost fifty percent in the current fiscal year.
The INGOs in the last fiscal year had provided Rs 40 billion for various projects. However the amount has dropped to Rs 22 billion this fiscal year.
According to the Social Welfare Council (SWC), a total of 65 INGOs had provided financial assistance to Nepal in the last fiscal year while the number of such INGOs has dropped to 40 this year.
The SWC informed New Business Age that there was a massive inflow of foreign aid in FY 2015/16 for reconstruction activities following the devastating earthquake of April 25, 2015. However, the reconstruction aid has been declining in the recent years.
At the meantime, the SWC report says that the aid related to education and other similar activities is increasing.
Durga Prasad Bhattarai, spokesperson of the SWC, says that the financial aid received for earthquake reconstruction has already been spent.
American INGOs make the highest contribution of aid to Nepal. Likewise, Switzerland, Germany, France and Italy respectively are the other highest funding countries.