After years of uncertainty, Nepal has finally joined hands with China under the Belt and Road Initiative (BRI). This major agreement was signed during Nepalese Prime Minister KP Sharma Oli’s recent visit to Beijing. But what took so long, and why does this matter? Let’s dive in.
What is the BRI?
The Belt and Road Initiative is China’s ambitious global project to create new trade routes connecting Asia, Europe, Africa, and beyond. Think of it as a modern-day Silk Road with massive infrastructure projects like railways, highways, and power grids. For Nepal, this deal could mean new opportunities for development and better connectivity to the world.
Chinese and Nepali delegations led by President Xi Jinping and Prime Minister KP Sharma Oli in Beijing on December 3, 2024. © FMPRC
A Rocky Start
Nepal had already signed a basic understanding of the BRI back in 2017. So, why did it take seven years to finalize a deal? The delay was mainly about money. China wanted to give...
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