Only grants will be accepted under BRI, NC maintains

KATHMANDU: The Nepali Congress (NC) has stated that only grants for projects under the Belt and Road Initiative (BRI) can be accepted.

A meeting of the party’s Work Performance Committee on Monday discussed Prime Minister KP Sharma Oli’s recent China visit and the framework for BRI cooperation signed between the two countries.

According to NC Spokesperson Dr Prakash Sharan Mahat, NC has maintained its long-standing position that only grants should be accepted. “The framework includes ‘aid financing’ which allows project implementation through grants,” Dr Mahat said.

Mahat said NC is of the view that separate project-specific agreements are necessary despite signing a framework for BRI cooperation. “Nepal is not in a position to accept loans from any country or donor agency,” Mahat said. “We have a bad experience with loan assistance in Pokhara International Airport. It has become certain that there won’t be tangible returns.”

Mahat also said Npeal remains Nepal is not in a position to accept conditional loans. “Government-to-government loans often come with numerous conditions that are not beneficial to the country. We cannot accept such loans,” he added.