Nepal Avoids Debt Trap News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Nepal has conveyed to a visiting senior Chinese Communist Party official that the country only wants grants from China, not commercial loans for developing infrastructures under the ambitious Belt and Road Initiative (BRI).

Prime Minister Sher Bahadur Deuba made the remarks at a meeting with the visiting Chinese Communist Party (CCP) leader, Liu Jianchao, in Kathmandu, according to prime minister's press adviser Govinda Pariyar who was present during talks on Sunday.

"PM Deuba told the Chinese leader that Nepal is not in a position to afford commercial Chinese loans for infrastructure building under the BRI because the national economy is already under stress due to several reasons including the depletion in foreign currency reserves. Therefore, Nepal wants only grant assistance from China in the coming days," Pariyar told India Narrative on Monday evening.

On the occasion, Liu, who is the head of CPC's International Liaison Depart ....

Sri Lanka , Nepal General , Govinda Pariyar , Sher Bahadur Deuba , Liu Jianchao , Wang Yi , Chinese Ministry Of Foreign , World Bank , Chinese Communist Party , Ministry Of Foreign Affairs Nepal , International Liaison Department , Asian Infrastructure Investment Bank , Tribhuvan University , Dimensional Connectivity Network , Road Initiative , Minister Sher Bahadur Deuba , India Narrative , Liaison Department , Chinese President Xi Jinping , South Asian , Indian Narrative , Silk Road , Bahadur Karki , State Councilor , Foreign Affairs , Chinese Ministry ,