Nepal can take advantage from China's Belt and Road Initiative (BRI), according to a minister.
"Nepal should not be skeptic of China's Belt and Road Initiative (BRI) as it could create a win-win situation for all the nations involved," said finance minister Dr Yuba Raj Khatiwada, inaugurating the third international conference on BRI organised by Nepal-China Friendship Forum here today.
He also claimed that the debts under the initiatives are sustainable and will come handy to Nepal at a time when the investments in infrastructures are set to decrease. "With more investments needed for social security, we are set to see a decrease in investments in infrastructures,” he said, adding that the Chinese loan will be of good help for Nepal.
All the nations under the initiative should come together in planning, working and sharing the benefits of the initiative to make sure that it becomes a success, though there is a widespread critisism of BRI, which is claimed to push a nation into a 'debt trap'.
Chinese ambassador to Nepal Yu Hong, on the occasion, said that BRI is not a debt trap for the South Asian developing nations. He also claimed that the initiative aims at creating a win-win situation for all the parties involved. "There are enough evidences which support the fact that the initiative can produce positive result," she said, adding that the international community is divided over the initiative with some nations terming the initiative as a 'Chinese debt trap'. Most of the critics have claimed the loans granted by China will create problems for the developing nations.
Citing the example of Sri Lanka which only owes 10 per cent of its foreign loans to China, the envoy said that China offers loan with interest rates, lower than those in the global market. "How can the loans be a problem,” she asked adding that it is high time that China and South Asian countries worked together for the initiative.
The two-day conference is engaging various international experts, who will come together in deliberations, sharing of experience, knowledge and expertise on various topics relating to BRI.
"Nepal should not be skeptic of China's Belt and Road Initiative (BRI) as it could create a win-win situation for all the nations involved," said finance minister Dr Yuba Raj Khatiwada, inaugurating the third international conference on BRI organised by Nepal-China Friendship Forum here today.
He also claimed that the debts under the initiatives are sustainable and will come handy to Nepal at a time when the investments in infrastructures are set to decrease. "With more investments needed for social security, we are set to see a decrease in investments in infrastructures,” he said, adding that the Chinese loan will be of good help for Nepal.
All the nations under the initiative should come together in planning, working and sharing the benefits of the initiative to make sure that it becomes a success, though there is a widespread critisism of BRI, which is claimed to push a nation into a 'debt trap'.
Chinese ambassador to Nepal Yu Hong, on the occasion, said that BRI is not a debt trap for the South Asian developing nations. He also claimed that the initiative aims at creating a win-win situation for all the parties involved. "There are enough evidences which support the fact that the initiative can produce positive result," she said, adding that the international community is divided over the initiative with some nations terming the initiative as a 'Chinese debt trap'. Most of the critics have claimed the loans granted by China will create problems for the developing nations.
Citing the example of Sri Lanka which only owes 10 per cent of its foreign loans to China, the envoy said that China offers loan with interest rates, lower than those in the global market. "How can the loans be a problem,” she asked adding that it is high time that China and South Asian countries worked together for the initiative.
The two-day conference is engaging various international experts, who will come together in deliberations, sharing of experience, knowledge and expertise on various topics relating to BRI.
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