Nepal's ties with China have deepened as China's donation to Nepal has doubled over the last five years.
India's aid to Nepal has dwindled by over 50% in the last five years to US $22 million while China's assistance to the land-locked nation doubled, a Nepalese Finance Ministry report says, amid Nepal's deepening ties with the Communist giant.
Chinese aid of US $37.94 million was disbursed in the 12-month period in 2014-2015 which made it the fourth largest bilateral donor to Nepal behind the UK, the US and Japan, according to Nepal's Development Cooperation Report 2014-15.
Switzerland was the fifth largest donor. India's actual disbursement of aid to Nepal in the financial year 2010-11 was US $ 50,728,502. In 2011-12, it was US $50,620,749 and in 2012-13 it rose to US $ 63,813,269.
In 2013-14, the Indian aid, however, fell to US $ 47,796,349 and it dwindled to US $ 22,227,306 in 2014-15, the report said. On the other hand, China's aid to Nepal has been steadily growing from US $ 18,843,988 in 2010-11 to US $28,344,923 in 2011-12 and US $ 34,120,033 in 2012-13. The financial help again grew to US $ 41,381,522 in 2013-14 and stood at US $37,948,75 in 2014-15.
The volume of aid disbursement in FY 2014-15 reached a total of US $1.13 billion of which Overall Official Development Assistance (ODA) contribution was US $1020.75 million (90 %) and INGO contribution was US $116.89 million (10 %).
Despite the devastating earthquake in April 2015, the level of ODA disbursement stood at almost the similar level as compared to the previous fiscal year (US $1.03 billion in FY 2013-14), the report said.
Of the total disbursement of ODA, about 45 % was provided by multilateral donors, while nearly 55 % came from bilateral donors, it said.
The top five bilateral development partners for the FY 2014-15 were the UK (US $168.07 million), USAID (US $132.37 million), Japan (US $39.87 million), China (US $37.95 million) and Switzerland (US $ 32.47 million).
The top 5 bilateral development partners contributed approximately 40 % of the total ODA disbursements. The report noted that the trend of ODA shows disbursed over the last 5 years from top development partners indicates that the disbursement from the World Bank Group, ADB, India, Japan and EU has declined, the Finance Ministry report said.
Nepal has been receiving development assistances for more than six decades and aid continues to play an important role in the socio-economic development of the country, it added. ODA represents in average about 20 % of the national budget over the last 5 years. The estimated GDP for FY 2014-15 was US $ 21.2 billion whereas the total government expenditure was estimated to be about US $ 6.2 billion which is about 29.1 % of GDP.
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