Prachanda in China, says Nepal is ready to take BRI project further

Nepal will continue to actively participate in China’s Belt and Road Initiative (BRI), Prime Minister Pushpa Kamal Dahal Prachanda has said, laying to rest speculation that he would push Beijing for measures to safeguard Nepal from falling into a debt trap.

Prachanda, who flew to Hangzhou from New York to witness the inaugural session of the Asian Games, has told Chinese President Xi Jinping that his government will further promote the Trans-Himalayan network as it will “greatly assist” Nepal’s national economic development. The Trans-Himalayan network, an economic corridor between Nepal and China, is part of the BRI.

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Prachanda’s assurances to Xi, covered widely by the Chinese press, were in contrast to speculation he would ask Beijing to build the BRI projects in Nepal under a grant mechanism, which would allay fears that the project will push Nepal into a debt trap.

“Nepal supports a series of important concepts and initiatives put forward by President Xi and is willing to work with China to promote development of international order in a more just and reasonable direction…,” news agency Xinhua quoted Prachanda as saying.

Calling Xi a “visionary world leader”, Prachanda also reiterated Nepal’s commitment for the one-China policy.