look news india
Kathmandu, 25 July (HS). China's ambitious project Belt and Road Initiative (BRI) has been put on hold by Nepal for the time being. Nepal's Foreign Minister has clearly stated that there is no thought of moving forward on BRI immediately.
After being summoned by the Parliament's International Relations Committee, Foreign Minister Dr. Arju Deuva said that until a consensus is reached on BRI, it will not be taken into implementation. Responding to several questions asked by MPs in the Parliamentary Committee, Foreign Minister Dr. Deuva said that it is true that the Nepal government has signed to join BRI, but until the full details of this agreement are studied or until the interest rate received under BRI is not in accordance with Nepal's interest, it will not be taken into implementation.
Foreign Minister Deuba also made it clear that a consensus will first be made in Nepal on whether the loan from BRI is necessary for Nepal or not. He said that if the loan facility is available from BRI at the same rate as the loan facility is available from the donor body of the bank, then this can be considered. The Foreign Minister says that Nepal prefers taking grants rather than loans from any country.
In the parliamentary committee, MPs questioned the government for not making the correct documents public regarding BRI till now. The chairman of this committee, Rajkishore Yadav, said that the government should make the BRI document public as soon as possible. He said that not making the complete document of the agreement made in 2017 public even after seven years raises questions on the intention of this agreement.