Kathmandu: In what may be described as a token of consolation for the CPN-UML-Nepali Congress coalition government, perceived as the coalition between pro-China and anti-China political parties respectively, China has announced the grants worth nine billion Nepali rupees during Nepal Prime Minister KP Sharma Oli’s visit to Nepal’s northern neighbor, the world’s second largest economy and the major rival of the United States, which wields significant influence in Nepal’s political and economic affairs.
President XI has announced the grant of 500 million RMB (equivalent to around nine billion Nepali rupees) to Nepal in grants, confirmed Krishna Prasad Dhakal, the spokesperson with the Ministry of Foreign Affairs of Nepal.
Nepali Congress was adamant to signing any deals with China on loan basis, while CPN-UML appeared to be flexible with the proposals of loans as well, especially in the BRI projects, during the negotiations between the two ruling parties—the Nepali Congress and CPN-UML, which are largely perceived as pro-India and pro-West and anti-India and pro-China entities in Nepal, before Oli embarked on the official visit to China, his first port of call after assuming office four months ago.
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