Kathmandu/Beijing, Dec 6 (FN Bureau) Nepal and China signed the Framework for the Belt and Road Initiative (BRI) Cooperation agreement in Beijing on Wednesday, during Nepalese PM KP Sharma Oli’s visit. “Today, we signed the Framework for Belt and Road Cooperation. As my official visit to China concludes, I am honored to reflect on the bilateral talks with Premier Li Qiang, discussions with NPC Chairman Zhang Leji, and the highly fruitful meeting with President Xi Jinping,” Prime Minister Oli posted on X, MyRepublica reported.Earlier on Tuesday, the two countries had failed to sign the deal due to Nepal’s stance against a loan agreement to implement BRI projects. However, the two sides reached an agreement on Wednesday after intense negotiations to find a middle path.Initially, Nepal proposed in the draft agreement a “grant financing cooperation modality”, which the Chinese side amended to “assistance financing modality”. The term “aid assistance financing” was eventually agreed upon by both parties.Nepal’s negotiation team was led by PM Oli’s advisor Yubaraj Khatiwada and Foreign Minister Arzu Rana Deuba, while China’s delegation was represented by senior officials from its Ministry of Foreign Affairs.
The details of the cooperation framework agreement have not been made public yet.Prior to Prime Minister Oli’s visit to China, the Nepali Congress and CPN-UML could not find a mutual understanding on the BRI implementation framework until the last minute. Nepali Congress leaders had previously stated that they could not agree to take on additional loans from China. After the two parties reached an agreement on the same issue, a proposal was sent to China, the Himalayan Times said.Previously, following talks between PM Oli and his Chinese counterpart Li Qiang in Beijing on Tuesday, officials from the two countries signed nine memoranda of understanding (MoUs), including economic cooperation, trade promotion and the construction of physical infrastructure.The MoUs include an agreement on economic and technical cooperation, a letter of exchange for the Tokha-Chhahare tunnel, on trade promotion cooperation, a protocol agreement on essential elements for ‘thermal’ processing of buffalo meat for export from Nepal to China, a memorandum on development plan (year 2024-2029), a letter of exchange regarding financial support, and the handover of a certificate of completion of reconstruction of the nine-storey Basantpur Palace. An agreement has also been reached between Nepal Television, the Chinese Media Group, and volunteer Chinese language teachers.