Nepali Congress Advocates Cautious Approach on China's BRI Initiatives

Nepali Congress leader Prakash Sharan Mahat stated Nepal can accept grants and technical aid from China under the BRI, but not loans. The remarks come ahead of PM K P Oli's China visit, as Nepal navigates strategic implications of the BRI, prioritizing national interests and geopolitical considerations.

In a strategic move, Nepali Congress leader Prakash Sharan Mahat declared on Wednesday that Nepal should embrace grants and technical support from China under the Belt and Road Initiative (BRI), while avoiding loans. His comments come on the brink of Prime Minister K P Oli's imminent visit to China scheduled for December 2.

Mahat disclosed his stance during the 'Navigating Strategic Implications of BRI for Nepal' event, stressing the burden of existing multimillion-dollar loans. He urged prioritizing national interests and a careful assessment before negotiating new agreements, asserting that the focus should be on grants and technical collaborations with China.

With existing BRI agreements unimplemented since May 2017, Nepal is considering a new framework with China. Meanwhile, voices within the leadership, like former foreign minister Pradeep Gyawali, are calling for a prudent examination of geopolitical scenarios and foreign policy directives before making financial commitments, addressing both opportunities and challenges posed by neighboring giants, India and China.

(With inputs from agencies.)