The Nepali Congress (NC) has reiterated its stance that it can only accept agreements under the Belt and Road Initiative (BRI) if they are based on grants. A meeting of the party’s Central Working Committee held at the residence of NC President Sher Bahadur Deuba in Budhanilkantha concluded that BRI projects should not be financed through loans.
Following the meeting, the party’s Spokesperson Prakash Sharan Mahat told media persons that the party’s position remains unchanged—BRI projects should be funded only by grants. He said that during Prime Minister KP Sharma Oli’s visit to China, the agreement for financing was referred to as a ‘grant,’ not a loan. Mahat said any future BRI projects must follow this framework and be funded through grants.
Mahat further stated that even if a new agreement is made under the BRI, Nepal can only accept projects that are grant-based, not loan-based. He made it clear that Nepal is not in a position to take loans from any country or donor agency, including the BRI.
Pointing to the Pokhara Regional International Airport (PRIA) as an example, Mahat said that it was built with loan assistance but has not yet brought the expected benefits. He warned that Nepal needs to be cautious about seeking loans for development projects.
