Nepal-Chinese Foreign Ministers Meeting: Nepali Foreign Minister Arju Rana Deuba has returned from a three-day visit to China. On returning to Kathmandu, she clarified Nepal's position on BRI projects. After returning from the visit, the Nepali Foreign Minister said on Saturday 30 November (Saturday) that Nepal is not in a position to take loans for projects under China's Belt and Road Initiative (BRI). Instead, Nepal will depend on grants and will move forward on the basis of mutual consent between all stakeholders. The Nepali Foreign Minister said the purpose of his three-day visit to China was to prepare for the official visit of Nepal Prime Minister KP Sharma Oli to Beijing from December 2.

Nepal signed the BRI agreement in 2017

According to a Business Standard report, Foreign Minister Arju Rana Deuba said that Nepal had signed the BRI framework agreement in 2017. But discussions are still going on about the ways to implement it. Projects under the BRI will move forward only on the basis of agreements and mutual understanding between all stakeholders of China and Nepal. Responding to a question, the Foreign Minister said that Nepal is currently not in a position to take a loan under the BRI. We have made this situation clear during talks with the Chinese side.

Nepal clarified its position on BRI

The Nepali Foreign Minister said that Nepal's ruling coalition partner Nepali Congress (NC) has already decided to implement BRI projects on the basis of grants instead of loans. Our discussions in China also revolved around taking the projects forward. It is noteworthy that Sri Lanka is also a stakeholder in China's BRI project, but it has many concerns of its own. Its concerns regarding BRI have increased after China acquired Sri Lanka's Hambantota port on a 99-year lease.