Laxmi Capital News
Government obtains BRI development proposals

The Ministry of Finance (MoF)has received around dozen development proposals from in-line ministries as aninitiation to China’s Belt Road Initiative (BRI), authorities informed.

Prioritising the goal ofconnectivity, proposals related to road, rail, hydropower, transmission lineand communication projects have been forwarded to the Ministry of Finance forselection.

“As of now we have receivedaround a dozen proposals from development ministries,” Yug Raj Pandey,Under-secretary at Ministry of Finance said, “The discussions regarding viableprojects will be held in-line with the common interest of both Nepal andChina.”

According to Pandey, theinitiative has entered planning phase and all the necessary discussions will beheld in the forthcoming days.

The proposals have prioritisedKyirong-Kathmandu-Pokhara-Lumbini Railway, Kyirong-Kathmandu Highway, RingRoad, Nepal-China transmission line, Sunkoshi Marine Diversion, few drinkingwater projects and irrigation projects in mid-hill areas.

“The Nepal government and Chinawill decide the projects that need to be undertaken as per the priorities setby China and Nepal,” Pandey said.

Although, Nepal kept themassive $ 1 trillion connectivity project on the table since 2013, a frameworkagreement was signed during May, 2017. To get the initiative off the ground,officials from both the countries are yet to hold discussions which can onlytake place after the government selects priority projects.

The BRI is a connectivityproject launched by Chinese President Xi Jinping in 2013 which aims to buildbridges across Eurasia and beyond through billion dollar investment ininfrastructures. Various international organisations and around 60 countrieshave signed accords with China making BRI a global-headline-act.

Source:The Himalayan Times, 15th December, 2017

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