In Kathmandu, Nepal's ruling parties, the Nepali Congress and the CPN-UML, are in disagreement over China's Belt and Road Initiative (BRI). Prime Minister Oli, leading the CPN-UML, announced a visit to China starting December 2, aiming to sign projects under the BRI, potentially funded by loans. This move is opposed by the Nepali Congress, led by Sher Bahadur Deuba, which prefers not to take new loans until China fulfills its grant commitments.
During a mass gathering in Kathmandu, PM Oli declared his upcoming China visit, emphasizing its importance for Nepal's development. He expressed confidence in the visit's success and its benefits for the country.
Oli advocates for loans under the BRI to boost production, despite acknowledging Nepal's current debt situation. In contrast, the Nepali Congress, represented by former Finance Minister Prakash Sharan Mahat, insists on focusing on existing grant commitments from China before considering new loans.
The Nepali Congress is not against the BRI but stresses the need for grant implementation before discussing loans. Mahat highlighted the increasing debt burden and the importance of addressing grant commitments first.
Nepal is a country located in South Asia, right next to India. It is known for its beautiful mountains, including Mount Everest, the tallest mountain in the world.
PM Oli refers to K.P. Sharma Oli, who is a political leader in Nepal and has served as the Prime Minister of the country.
A China visit means that PM Oli is planning to travel to China, which is a large country in Asia, to meet with leaders there and discuss important matters.
BRI stands for Belt and Road Initiative, which is a big project started by China to build roads, railways, and other infrastructure in many countries to improve trade and connectivity.
The Nepali Congress is one of the major political parties in Nepal. It plays a significant role in the country's politics and governance.
CPN-UML stands for Communist Party of Nepal (Unified Marxist–Leninist), which is another major political party in Nepal. It often has different views from the Nepali Congress.
Grant commitments refer to promises made by China to give money or resources to Nepal without expecting repayment, unlike loans which need to be paid back.
Your email address will not be published. Required fields are marked *