Nepal's Political Divide Deepens Over Belt and Road Initiative

Nepali Congress and CPN-UML remain divided over Belt and Road Initiative projects as PM Oli plans a China visit, advocating for loans under the initiative. Nepali Congress opposes new loans, insisting on fulfilling China's grant commitments first, highlighting a growing political rift over developmental priorities.

Nepal's ruling parties, the Nepali Congress and the CPN-UML, are embroiled in a dispute over the Belt and Road Initiative (BRI) as Prime Minister Oli prepares for a China visit on December 2. The parties hold conflicting views on the BRI pact introduced by China.

CPN-UML, led by Oli, is urging the Nepali Congress to accept funding for selected projects under BRI, particularly in loans. Oli, speaking at a rally in Kathmandu, emphasized the importance of his upcoming China visit and hinted at potential project signings under the BRI during discussions with the coalition partner.

Despite pressure from Oli, the Nepali Congress remains firm in its stance against taking new loans under BRI. Former Finance Minister and party spokesperson Prakash Sharan Mahat emphasized the need for China to fulfill its existing grant commitments before pursuing additional loans.

(With inputs from agencies.)