ADB pledges $200m in support to Nepal

The Asian Development Bank pledges up to 200 million dollars in support to Nepal for the first phase of rehabilitation in the aftermath of Saturday's devastating earthquake.

The bank is already sending a 3-million-dollar grant for tents, medicines, food and drinking water, it says online.

Up to another 200 million dollars in "additional resources" are to be made available, it said. The money is likely to be a combination of grants and loans, in accordance with the bank's practices, the DPA reported.

The regional bank says it is prepared to re-allocate existing resources for reconstruction and rehabilitation needs after an assessment of the damage is complete.