No Loans Will Be Accepted

The Nepali Congress has said that congress will only accept grants, not loans, for projects under the Belt and Road Initiative (BRI). A meeting of the party's Central Committee on Monday reaffirmed this stance, which has remained unchanged, even regarding the aid financing loans discussed during Prime Minister KP Sharma Oli’s visit to China.

Congress spokesperson Dr. Prakash Sharan Mahat said that the BRI agreement now includes aid financing instead of grand financing, allowing projects to be funded with grants. He also mentioned that separate agreements would be needed for individual projects, and Nepal would only accept those funded by grants, not loans. 

Dr. Mahat stressed that Nepal is not in a position to take loans from any country or donor agency, citing the example of the Pokhara Airport, which was built with a loan but has not yet brought any benefits.