In a recent development, China has pledged a grant of 500 million RMB (approximately 9 billion Nepali rupees) to Nepal, reinforcing its commitment to supporting Nepal’s socio-economic development. This grant will fund various projects across the country, fostering closer bilateral ties between the two nations.
During a high-level meeting in Beijing, the Nepalese government also accepted additional projects worth $20 million under China’s grant assistance program. These projects aim to bolster Nepal’s infrastructure, connectivity, and overall development.
A significant milestone in Nepal-China relations was achieved with the signing of the “Framework for Belt and Road Cooperation” during Prime Minister K.P. Sharma Oli’s recent visit to Beijing. This new framework replaces the term “grant financing” with “aid financing,” providing more flexibility in project funding under the Belt and Road Initiative (BRI). The agreement focuses on improving infrastructure and enhancing economic connectivity between the two countries.
China’s grant assistance has been pivotal in Nepal’s development journey, funding critical infrastructure projects, disaster recovery efforts, and cultural exchange programs. The collaboration under the BRI is expected to open new avenues for economic growth, positioning Nepal as a vital player in regional connectivity.
As Nepal continues to strengthen its diplomatic and economic ties with China, these grants signal a promising future of mutual cooperation and shared prosperity.
