Stories Tagged 'Belt and road initiative'
Xi’s keynote shows that there has been a polar shift in the global strategic balance.
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At the end of the BRI conference on April 27, a joint communiqué will explicitly incorporate projects for Nepal under the initiative, enabling an environment for their execution, according to officials at the Ministry of Foreign Affairs.
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After Nepal signed up to China’s Belt and Road Initiative in May 2017, the government had formed two committees—led by foreign and finance secretaries—to identify projects for negotiations with the Chinese side. When the finance secretary-led committee listed 35 projects to develop under the initiative, it had brought interest in China’s funding in Nepal to a pitch fever.
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Finance Minister Yubaraj Khatiwada on Tuesday expressed his discontent over the slow progress of China’s Belt and Road Initiative (BRI) and stressed it is “time for action” and to stop politicising the plan that aims regional economic development.
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While Nepali leaders have committed time and again to the Belt and Road Initiative, China’s flagship foreign policy initiative led by President Xi Jinping, officials said little progress has been made in the last five months towards negotiating the projects identified by the Nepal government.Government officials said negotiations for around three dozen projects that were submitted to the Chinese side during Prime Minister KP Sharma Oli’s official visit to China in June are being delayed.
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