Nepal Foreign Affairs Minister Arzu Rana Deuba declared that the country will not accept loans for Belt and Road Initiative (BRI) projects, focusing instead on grants. This position was conveyed during her recent visit to China, where discussions aimed at strengthening bilateral ties were held. Prime Minister K P Sharma Oli is expected to address several key issues with China in his upcoming tour, all while considering domestic political factors.

Nepal’s Foreign Affairs Minister, Arzu Rana Deuba, has officially stated that Nepal will not engage in loans for projects under the Belt and Road Initiative (BRI) framework. Instead, the country will focus on securing grants. During her recent visit to China, Deuba communicated this position to Chinese Foreign Minister Wang Yi, emphasizing that the execution of the BRI agreements will rely on mutual agreements among Nepal, China, and relevant local stakeholders. Minister Deuba is a key figure in Prime Minister K P Sharma Oli’s 44-member delegation to China, where discussions aim to enhance bilateral relations, improve trade routes, and bolster tourism, all while navigating domestic political considerations.

The Belt and Road Initiative (BRI), launched by China in 2013, aims to enhance global trade and economic collaboration through infrastructure development. Nepal’s involvement in the BRI is characterized by its ambition to strengthen ties with China while maintaining internal political balance. The BRI framework agreement, signed in 2017, sets the foundation for future projects. However, Nepal’s recent economic challenges have made it imperative for the government to seek non-repayable grants rather than loans, as articulated by Minister Deuba during her engagement with Chinese officials.

In conclusion, Nepal’s commitment to avoiding loans for BRI projects underscores its current economic stance and the emphasis on securing grants instead. Minister Deuba’s discussions in China reflect a broader strategy to enhance Nepal-China relations while ensuring that domestic political dynamics remain stable. Prime Minister Oli’s upcoming visit aims to address multiple facets of bilateral cooperation, particularly in trade and connectivity, which have become crucial following recent challenges.

Original Source: indianexpress.com

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