Ruling coalition faces tensions as BRI deal raises questions on loan acceptance

Kathmandu, December 6 — Nepal and China have officially signed the "Belt and Road Cooperation Framework," with the ruling Communist Party of Nepal (UML) expressing enthusiasm. However, there is growing uncertainty within the Nepali Congress (NC), another partner in the ruling coalition, following modifications to the agreement's language, especially around the issue of loans and grants. The confusion stems from changes made to the agreement during Prime Minister KP Sharma Oli's visit to Beijing, which involved language amendments regarding the financing model of the BRI projects. While the Nepali Congress had previously decided to accept...

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Ruling coalition faces tensions as BRI deal raises questions on loan acceptance

Kathmandu, December 6 — Nepal and China have officially signed the "Belt and Road Cooperation Framework," with the ruling Communist Party of Nepal (UML) expressing enthusiasm. However, there is growing uncertainty within the Nepali Congress (NC), another partner in the ruling coalition, following modifications to the agreement's language, especially around the issue of loans and grants. The confusion stems from changes made to the agreement during Prime Minister KP Sharma Oli's visit to Beijing, which involved language amendments regarding the financing model of the BRI projects. While the Nepali Congress had previously decided to accept...