However, these concessions facilitated economic and military expansion for the Chinese, allowing them to build infrastructure, establish military bases in BRI- recipient countries. Since its launch in 2013, the BRI has been well received across the globe due to its easy loan parameters.

Our economy is too small to be able to afford commercial loans, so we should avoid such loans,' a senior Nepali Finance Ministry official told the Post. 'In our recommendation, we have clearly stated that we should seek preferably a grant from China or concessional loans at less than 2 percent annual interest to fund the projects under the BRI. Last December, internal consultations were held with regard to BRI projects in Nepal during which it was recommended that both countries should set up a joint mechanism for the selection of projects.Īccording to a Nepali government official, the recommendations also include avoiding commercial loans for the implementation of BRI projects because 'they are too expensive.' However, no project took off over concerns regarding the Chinese infrastructure program.

Back then it was regarded as a watershed moment in Nepal and China bilateral ties. Nepal signed the BRI agreement back in 2017. 'We have already received the text of the project implementation plan of the BRI from China,' a senior Nepali government official told the Post, adding, 'During the visit, both sides are expected to agree on the text of the project implementation plan, which will pave the way for the execution of BRI projects.' The Indian Army and the Chinese PLA have deployed nearly three divisions of troops on opposite sides of the 1597 km Ladakh Line of Actual Control, showing that there has been no de-escalation (LAC).Chinese Foreign Minister Wang Yi is set to visit Nepal this month to push for the implementation of China's infrastructure development strategy Belt and Road Initiative (BRI).ĭuring his visit, Wang Yi will look to sign at least two projects, The Kathmandu Post reported. The last troop withdrawal in East Ladakh took place following the 12th round of military dialogue on July 31 last year, in which the People’s Liberation Army (PLA) stepped back to regenerate the April 2020 status quo ante including the 597 km LAC in the western region. Hot Springs is 10 KMs from Gogra and 40 km from Patrol Point 15 in the Kongka La region. While the two sides will discuss the Ukraine conflict and its global consequences, it will only make meaningful progress toward the normalization of bilateral relations if the PLA restores the status quo ante in East Ladakh by April 2020.Īfter the 12th session of India-China military commanders’ talks on July 31, 2021, the last movement on disengagement in East Ladakh took place in the general area Gogra (patrolling point 17A). The Chinese foreign minister will meet with his Indian colleague, External Affairs Minister S Jaishankar, as well as National Security Advisor Ajit Doval, who is also his counterpart in the Special Representative Dialogue on Border Resolution. Following that, in April 2022, a 25-member US congressional delegation is due in Kathmandu.Īs the Himalayan Republic has not cleared even a single project promoted as a vision of Chinese President Xi Jinping, Wang Yi will push the BRI with the Deuba government to counter the rising US influence in Nepal during his visit. The award was approved after the Biden administration put a lot of pressure on Nepal and its erratic lawmakers, setting a deadline of February 28, 2022.

The Millennium Challenge Corporation Nepal Compact award, signed in September 2017, was caught up in Nepal’s Communist-dominated politics, with Beijing adding gasoline to the fire.

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