Nepali Congress Claims BRI Agreement with China is Grant-Based

Kathmandu: The Nepali Congress has claimed that the agreements under the Belt and Road Initiative (BRI) with China are based on grants.

Speaking after the Central Working Committee meeting on Monday, party spokesperson Dr. Prakash Sharan Mahat explained that the bilateral agreements made during the Prime Minister’s recent visit to China align with the Congress party’s policies.

He stated that the Congress had previously decided to accept grants but reject loans. Following the meeting, Dr. Mahat said, “The Prime Minister has clearly stated that only grants will be accepted, not loans.”

He clarified that the framework agreement is focused on issues aligned with national interests. “Grant financing is naturally included in aid financing. Taking conditional loans has long-term impacts, as past experiences have shown,” he added.

Citing the example of the Pokhara International Airport project, he said, “This project has failed to generate returns and has turned into a bad loan. At this point, it is not feasible for us to take on more debt.”

The Nepali Congress has emphasized that future projects will only proceed based on grants, reaffirming its commitment to sustainable financing practices.