Nepal’s Foreign Affairs Minister, Arzu Rana Deuba, announced that Nepal will not be seeking loans from China, opting instead to rely on grants to support development projects. This declaration was made following her visit to China, ahead of Prime Minister K P Sharma Oli’s official trip to Beijing. Deuba emphasized that the Belt and Road Initiative (BRI) framework, agreed upon in 2017, will be executed through mutual agreements and understanding among Nepal, China, and relevant stakeholders within Nepal.
Speaking at Tribhuvan International Airport, Deuba stated, “I have informed Minister Wang Yi that Nepal is not in a position to take loans,” and highlighted that their conversations focused on advancing BRI projects with grants rather than loans.
Deuba, a prominent leader of the Nepali Congress, was the sole minister accompanying Prime Minister Oli during his official journey to China. Her dialogues with her Chinese counterpart in Chengdu were part of “ongoing efforts to enhance bilateral relations at all levels.”
Prime Minister Oli’s agenda in China includes discussions on a variety of issues such as improving connectivity, facilitating smoother trade via newly operational border check posts, and boosting tourism. However, these discussions are expected to respect the domestic political landscape.
Deuba warned that any deviation from the Nepali Congress’s stance, especially regarding financial agreements with China, could jeopardize Oli’s coalition government. Her statements underscore Nepal’s cautious approach in balancing diplomatic relations with China while safeguarding national interests and political stability.
This diplomatic engagement comes as both nations aim to strengthen ties and explore avenues for cooperation within the provisions of the BRI agreement.
Original Story https://indianexpress.com/article/india/nepal-rules-out-loans-for-bri-projects-foreign-minister-9699396/
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Publish Date: 2024-11-30 22:38:00
