Nepal and China's Strategic Belt and Road Agreement Revitalizes Development Prospects

Nepal and China have signed a new framework agreement to advance projects under the Belt and Road Initiative. This comes after a seven-year halt due to political differences in Nepal. The deal promises infrastructure development, but debt concerns persist as debate stirs in Nepal's political circles.

Nepal has finalized a framework agreement with China, reigniting the Belt and Road Initiative after years of stagnation. The new deal aims to advance infrastructure projects, a move that follows Prime Minister K.P. Sharma Oli's diplomatic visit to Beijing.

The original Belt and Road deal was signed in 2017, but political challenges in Nepal delayed project developments. With the newly signed agreement, both countries are set to discuss detailed project plans, potentially focusing on road upgrades and transportation corridors.

Despite the optimism, debt concerns linger among Nepal's political factions, particularly the Nepali Congress party, which opposes loan-funded projects. The debate highlights the complexities of implementing ambitious international infrastructure initiatives.

(With inputs from agencies.)