Nepal and China agree a BRI cooperation framework agree a BRI cooperation framework
During PM Oli’s visit to China, Nepal and China inked a framework for BRI collaboration. On behalf of their respective nations, Liu Sushe, the deputy head of China’s National Development and Reform Commission, and Acting Foreign Secretary Amrit Bahadur Rai inked the framework collaboration. The commission is in charge of developing BRI initiatives and serves as the main contact in China. Unless either party terminates it, the framework will remain in effect for three years and then be extended for a further three years. The framework signed on Wednesday is not new, Foreign Minister Arzu Rana Deuba told the Post in a brief interview from Beijing. Nepal’s participation in the BRI is officially approved by Development. Future discussions on the BRI projects may still be challenging.
The deal reached on Wednesday opens the door for talks on the 10 projects Nepal has put forth to China. According to Oli, the Belt and Road Framework Cooperation would further solidify Nepal and China’s economic partnership. The Nepali side delivered a revised version of the BRI cooperation framework and insisted on grants as the project funding model just before the prime minister left for Beijing on Monday. However, the Chinese side took issue with the wording and substituted “assistance financing” instead, returning the paper to Nepal for review. For each of these initiatives, Nepal will establish priorities and create an implementation strategy. During the negotiation stage, the Nepali side made a number of changes to their plans.
