Nepal's Political Tensions: BRI Projects Spark Controversy

Nepal's political landscape is fraught with tension as the Nepali Congress and CPN-UML clash over China's Belt and Road Initiative. As Prime Minister Oli plans a visit to China, disagreements over taking on loans for BRI projects remain intense, with the Nepali Congress urging reliance on grant obligations first.

Nepal faces internal political strife as ruling parties, the Nepali Congress and the Communist Party of Nepal (Unified Marxist Leninist), disagree over China's Belt and Road Initiative. Prime Minister Oli has announced a crucial visit to China on December 2, stirring debate over the nation's financial strategy and its involvement in the BRI.

During a rally in Kathmandu intended to emphasize party strength, Oli announced his China visit and expressed his intention to negotiate several projects under the BRI, possibly funded through loans. The move conflicts with the Nepali Congress, which insists on waiting for China to fulfill existing grant commitments before considering new loans.

Former Finance Minister and Nepali Congress spokesperson, Prakash Sharan Mahat, emphasized the party's stance that Nepal should prioritize grant assistance to improve infrastructure and connectivity, given the swelling debt burden. Both parties demonstrate contrasting approaches to the BRI and the financial future of Nepal, underlining a strategic crossroads for the nation.

(With inputs from agencies.)