Loan agreements won't be signed in China: PM Oli

By A Staff Reporter,Kathmandu, Nov. 26: Prime Minister KP Sharma Oli has assured that no loan agreements would be signed during his official visit to China, set to commence on December 2. 

Prime Minister Oli provided this assurance during a discussion at the Office of the Prime Minister with former prime ministers, foreign ministers, and officials from the Ministry of Foreign Affairs regarding his upcoming visit to China.

Prime Minister Oli dispelled concerns about potential loan agreements during the visit, stating that no projects under the Belt and Road Initiative (BRI) currently involve loans and that borrowing from China is not a matter of contention at this time.

Prime Minister Oli remarked, “If needed, we can take loans or grants from any country or agency, prioritising national interests. There is no basis for indulging in unnecessary rumours about loans being taken to trap the country in debt. Our relationship with China is longstanding and friendly. This visit aims to further strengthen and deepen the friendship between the two nations.”

“No matter which country we visit first, our priority remains sovereignty, independence, and freedom of Nepal, alongside our national and international interests. This is why this visit will be successful. There is no basis for spreading rumours about any disputes between the ruling parties, Nepali Congress and CPN (UML), regarding this visit. Our actions will always align with world peace and Nepal’s interests. I encourage everyone to have confidence in this,” said Prime Minister Oli.

He stated that preparations have been made to discuss the effective implementation of previous agreements, the expansion of transmission lines, Nepal’s exports to China, and other areas of cooperation during the visit to China.

Prime Minister Oli highlighted that Nepal shares an equally friendly relationship with its another neighbour, India, and stressed the importance of leveraging these friendly ties to advance Nepal’s economic development.

Stating that the official visit of Nepal’s Chief Executive will be based on the country's needs and decisions, he urged that no one should consider such issues as a card against any country.

During the discussion, former Prime Minister and Chairman of the CPN (Maoist Center), Pushpa Kamal Dahal ‘Prachanda’, remarked that he had broken the tradition by visiting China first in the past. He clarified that his statement was not intended to suggest that Prime Minister Oli was playing the ‘China card,’ but rather to emphasise that such issues should not be used to exploit the country’s political fluctuations.

He emphasised the importance of effectively implementing the agreements made with China during his tenure as Prime Minister last year.

Speaking at the discussion, Minister for Foreign Affairs Dr. Arzu Rana Deuba said that the ruling two-party mechanism is working on the agenda for the Prime Minister’s China visit, and all the agendas would be finalised soon at the Prime Ministerial level.

She clarified that there is no dispute between the two parties regarding the Prime Minister’s China visit. 

The meeting was attended by former Prime Ministers Jhala Nath Khanal, Madhav Kumar Nepal, former Chairman of the Council of Ministers Khilraj Regmi, former Foreign Ministers Ishwor Pokhrel, Narayan Kaji Shrestha, Bhesh Bahadur Thapa, NP Saud, Mahendra Bahadur Pandey, Dr. Prakash Chandra Lohani, Dr. Bimala Rai Poudyal, among others. 

Nepali Congress President and former Prime Minister Sher Bahadur Deuba was not present at the discussion as he was outside the Kathmandu Valley.