The Kathmandu Post has reported that Nepal has trimmed down several projects under Belt and Road Initiative (BRI) with China.

The agreement, that was signed between the two countries five years ago, has been hindered by political and ideological reasons as per a report.

"We had a slow start. It took time to select projects and then we trimmed down the number of selected projects from 35 to nine," said Pradip Gyawali, who served as foreign minister in the Oli Cabinet.

“As we were working on the project implementation plan and its framework, the pandemic hit, and the entire priority was shifted,” he told The Kathmandu Post.

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The newspaper quoted officials familiar with the matter saying that the reason behind slashing the projects was the unhappiness with the fact that projects under the BRI were funded mostly with loans which Nepal did not prefer.

According to Mrigendra Bahadur Karki, an associate professor at the Tribhuvan University, “Nepal has a long experience of taking loans from multilateral agencies like the World Bank and the Asian Development Bank, among others, where interest rates are low and payback periods are long.”&nbsp;

“Nepal cannot afford commercial loans at higher interest rates,” he added.

A senior divisional engineer at the Department of Railways in Nepal, Aman Chitrakar, who is also a point person for the cross-border railway with China, told the Post that “China is still battling COVID-19 so work for conducting the feasibility study on Keyrung-Kathmandu railway has yet to begin in the field.”

“Some of the Chinese cities are grappling with Covid so their work has been affected. That’s why they could not deploy the manpower. There are immense technical challenges given the topography. We need an in-depth study to ascertain various prospects before taking forward this project.”

<a href="https://www.wionews.com/south-asia/nepal-capable-of-making-decisions-says-nepali-leader-on-chinas-forceful-diplomacy-on-mcc-461907">Also read |&nbsp;Nepal capable of making decisions, says Nepali leader on China’s forceful diplomacy on MCC</a>

Denying that the BRI cooperation between China and Nepal has ''bogged down,'' Chinese ambassador to Nepal Hou Yanqi said “On the contrary, it has become a road of hope that bolsters resilience and boosts confidence.”

“I would like to point out that the BRI has never been a geopolitical strategy, but a road of development.”

“Government changes are natural in democratic countries and it is their internal matter. However, a change in policies with the change in the government is a cause for concern.”&nbsp;

“This affects the investors mainly in large projects. Construction of hydropower projects or other industries takes time where the investors make long-term planning and investment. However, a frequent change in policies affects them,” Hou added.

“If BRI projects can be implemented through loans only, then we should convince the Chinese that we cannot afford high-interest loans. Nepal should sit down and talk with China to find a new funding modality,” former Nepali envoy to China, Rajeshwar Acharya told The Post.

“It may take some time but negotiations are the only way to a better deal. Not all loans are bad. We also should carefully study the terms and conditions of such loans. And, we should also give final touches to the implementation plan for the projects which we had initiated under the BRI,” said Gyawali.&nbsp;

“The Deuba government is giving very mixed and confusing signals regarding finalising the text of the implementation plan, and flatly told the Chinese that Nepal prefers grants, not loans. So I think given the current situation, BRI negotiations will be delayed.”

“Definitely the Nepal-China cross border railway was proposed by China with the Indian market in mind, because Nepal with a country of just 30 million people cannot cater to the objectives of the BRI. But India has strong reservations about the BRI and termed it a strategic, political and economic tool to expand the Chinese clout,” said Karki.&nbsp;

“Now that the Deuba government too has conveyed that it is not interested in loans. So I don’t see any possibility of BRI projects moving ahead at least until the general elections.”

(With inputs from agencies)

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The Kathmandu Post has reported that Nepal has trimmed down several projects under Belt and Road Initiative (BRI) with China. The agreement, that was signed between the two countries five years ago, has been hindered by political and ideological reasons as per a report.

The Kathmandu Post has reported that Nepal has trimmed down several projects under Belt and Road Initiative (BRI) with China. The agreement, that was signed between the two countries five years ago, has been hindered by political and ideological reasons as per a report. "We had a slow start. It took time to select projects and then we trimmed down the number of selected projects from 35 to nine," said Pradip Gyawali, who served as foreign minister in the Oli Cabinet. “As we were working on the project implementation plan and its framework, the pandemic hit, and the entire priority was shifted,” he told The Kathmandu Post. The newspaper quoted officials familiar with the matter saying that the reason behind slashing the projects was the unhappiness with the fact that projects under the BRI were funded mostly with loans which Nepal did not prefer. According to Mrigendra Bahadur Karki, an associate professor at the Tribhuvan University, “Nepal has a long experience of taking loans from multilateral agencies like the World Bank and the Asian Development Bank, among others, where interest rates are low and payback periods are long.” “Nepal cannot afford commercial loans at higher interest rates,” he added. A senior divisional engineer at the Department of Railways in Nepal, Aman Chitrakar, who is also a point person for the cross-border railway with China, told the Post that “China is still battling COVID-19 so work for conducting the feasibility study on Keyrung-Kathmandu railway has yet to begin in the field.” “Some of the Chinese cities are grappling with Covid so their work has been affected. That’s why they could not deploy the manpower. There are immense technical challenges given the topography. We need an in-depth study to ascertain various prospects before taking forward this project.” Also read | Nepal capable of making decisions, says Nepali leader on China’s forceful diplomacy on MCC Denying that the BRI cooperation between China and Nepal has ''bogged down,'' Chinese ambassador to Nepal Hou Yanqi said “On the contrary, it has become a road of hope that bolsters resilience and boosts confidence.” “I would like to point out that the BRI has never been a geopolitical strategy, but a road of development.” “Government changes are natural in democratic countries and it is their internal matter. However, a change in policies with the change in the government is a cause for concern.” “This affects the investors mainly in large projects. Construction of hydropower projects or other industries takes time where the investors make long-term planning and investment. However, a frequent change in policies affects them,” Hou added. “If BRI projects can be implemented through loans only, then we should convince the Chinese that we cannot afford high-interest loans. Nepal should sit down and talk with China to find a new funding modality,” former Nepali envoy to China, Rajeshwar Acharya told The Post. “It may take some time but negotiations are the only way to a better deal. Not all loans are bad. We also should carefully study the terms and conditions of such loans. And, we should also give final touches to the implementation plan for the projects which we had initiated under the BRI,” said Gyawali. “The Deuba government is giving very mixed and confusing signals regarding finalising the text of the implementation plan, and flatly told the Chinese that Nepal prefers grants, not loans. So I think given the current situation, BRI negotiations will be delayed.” “Definitely the Nepal-China cross border railway was proposed by China with the Indian market in mind, because Nepal with a country of just 30 million people cannot cater to the objectives of the BRI. But India has strong reservations about the BRI and termed it a strategic, political and economic tool to expand the Chinese clout,” said Karki. “Now that the Deuba government too has conveyed that it is not interested in loans. So I don’t see any possibility of BRI projects moving ahead at least until the general elections.” (With inputs from agencies) Watch WION's live TV here:

Nepal trims down number of projects under Belt and Road Initiative with China: Report

China's state-run Global Times reported that Pakistan had inducted the PNS Tughril as Pakistan declared it will "safeguard sea routes" along the China-Pakistan Economic Corridor (CPEC).

The warship is reportedly fitted with "state-of-the-art weapons and sensors", the Chinese daily said. The ship is also equipped with surface-to-surface cruise missiles including anti-submarine warfare torpedoes.

The induction ceremony for the Type 054A/P frigate was attended by top Chinese officials.&nbsp;

<a href="https://www.wionews.com/photos/in-pictures-after-1971-how-china-france-uk-helped-build-pakistan-navy-201805">Also Read in Pics:&nbsp;After 1971, how China, France, UK helped build Pakistan Navy</a>

Last month China had launched three warships including the Type 054A/P Tughril-class warship meant for the Pakistan Navy with one landing port dock for the Thai royal navy.

The Chinese daily said China and Pakistan had signed a deal for four Type 054A/Ps four years ago. Other major projects between the two countries include collaborations over F-22P frigates including helicopters and Azmat missiles.

Global Times quoted Pakistan's&nbsp;chief of the naval staff admiral Muhammad Amjad Khan Niazi as saying that the country had signed a deal for&nbsp;Hangor-class submarines including unmanned combat drones with&nbsp;China.

<a href="https://www.wionews.com/photos/december-4-1971-how-indian-navys-operation-trident-in-1971-destroyed-karachi-port-347507">Also Read in Pics:&nbsp;How Indian Navy's 'Operation Trident' in 1971 destroyed Karachi port</a>

The Type 054A/P frigate is set to guard China and Pakistan's interests along the CPEC sea routes.

China has invested heavily in the CPEC project in Pakistan with deals worth $54 billion as part of President Xi's Belt and Road Initiative(BRI) while upgrading infrastructure, power lines to link the Xinjiang region and Pakistan's Gwadar port.

However, there has been large scale resentment against China's projects among local Balochs who say they have been deprived of jobs with most claimed by outsiders. There have also been a series of attacks on CPEC projects which has forced&nbsp;the Pakistan security forces to deploy their personnel in the region to counter the violence.

(With inputs from Agencies)

China's state-run Global Times reported that Pakistan had inducted the PNS Tughril as Pakistan declared it will "safeguard sea routes" along the China-Pakistan Economic Corridor (CPEC).

China's state-run Global Times reported that Pakistan had inducted the PNS Tughril as Pakistan declared it will "safeguard sea routes" along the China-Pakistan Economic Corridor (CPEC). The warship is reportedly fitted with "state-of-the-art weapons and sensors", the Chinese daily said. The ship is also equipped with surface-to-surface cruise missiles including anti-submarine warfare torpedoes. The induction ceremony for the Type 054A/P frigate was attended by top Chinese officials. Also Read in Pics: After 1971, how China, France, UK helped build Pakistan Navy Last month China had launched three warships including the Type 054A/P Tughril-class warship meant for the Pakistan Navy with one landing port dock for the Thai royal navy. The Chinese daily said China and Pakistan had signed a deal for four Type 054A/Ps four years ago. Other major projects between the two countries include collaborations over F-22P frigates including helicopters and Azmat missiles. Global Times quoted Pakistan's chief of the naval staff admiral Muhammad Amjad Khan Niazi as saying that the country had signed a deal for Hangor-class submarines including unmanned combat drones with China. Also Read in Pics: How Indian Navy's 'Operation Trident' in 1971 destroyed Karachi port The Type 054A/P frigate is set to guard China and Pakistan's interests along the CPEC sea routes. China has invested heavily in the CPEC project in Pakistan with deals worth $54 billion as part of President Xi's Belt and Road Initiative(BRI) while upgrading infrastructure, power lines to link the Xinjiang region and Pakistan's Gwadar port. However, there has been large scale resentment against China's projects among local Balochs who say they have been deprived of jobs with most claimed by outsiders. There have also been a series of attacks on CPEC projects which has forced the Pakistan security forces to deploy their personnel in the region to counter the violence. (With inputs from Agencies)

Pakistan Navy inducts warship developed by China

Amid tensions in South China, a study has said that China has shown the "most interest" in emerging sea routes as climate change melts ice in the <a href="https://www.wionews.com/world/2019-was-among-warmest-years-on-record-arctic-temperatures-also-increased-report-320221">Arctic Ocean</a>.

<a href="https://www.wionews.com/world/china-plans-to-buy-gold-mine-in-arctic-trudeau-government-to-decide-deal-316251">Also Read: China plans to buy gold mine in Arctic; Trudeau government to decide deal</a>

In fact, China had released a White Paper (WP) two years ago asserting its legitimate rights in the region under international law which included freedom of navigation through the Arctic marine areas.

The much-debated Transpolar Sea Route (TSR) is the Arctic shipping route which runs through the Atlantic Ocean to the Pacific Ocean and is also called the Trans-Arctic Route, with the melting icecaps it is increasingly being viewed as the next big shipping route over the next decade.

According to the Marine Policy journal, China's has been eyeing Transpolar Sea Route (TSR) which connects the Atlantic and Pacific oceans as it will help to reduce distances in global trade.&nbsp;

In the White Paper, China had claimed the <a href="https://www.wionews.com/science/scientists-discover-a-methane-leak-in-antarcticas-seabed-315149">Arctic </a>is the "Polar Silk Road" connecting Asia and Europe with the expansion of China's ambitious Belt and Road initiative(BRI).

"China is an important stakeholder in Arctic affairs. Geographically, China is a Near-Arctic State, one of the continental States that are closest to the Arctic Circle," the White Paper had said.

The report also claimed that China has "long been involved in Arctic affairs" after it joined the Spitsbergen Treaty in 1925, "since then, China has exerted more efforts in the exploration of the Arctic, expanding the scope of activities, gaining more experience and deepening cooperation with other participants," it said.

"China attaches great importance to navigation security in the Arctic shipping routes. It has actively conducted studies on these routes and continuously strengthened hydrographic surveys with the aim to improving the navigation, security and logistical capacities in the Arctic," the White Paper said while adding that China hopes to work with all parties to build a “Polar Silk Road” through developing the Arctic shipping routes.

Amid tensions in South China, a study has said that China has shown the "most interest" in emerging sea routes as climate change melts ice in the Arctic Ocean. Also Read: China plans to buy gold mine in Arctic; Trudeau government to decide deal In fact, China had released a White Paper (WP) two years ago asserting its legitimate rights in the region under international law which included freedom of navigation through the Arctic marine areas.

Amid tensions in South China, a study has said that China has shown the "most interest" in emerging sea routes as climate change melts ice in the Arctic Ocean. Also Read: China plans to buy gold mine in Arctic; Trudeau government to decide deal In fact, China had released a White Paper (WP) two years ago asserting its legitimate rights in the region under international law which included freedom of navigation through the Arctic marine areas. The much-debated Transpolar Sea Route (TSR) is the Arctic shipping route which runs through the Atlantic Ocean to the Pacific Ocean and is also called the Trans-Arctic Route, with the melting icecaps it is increasingly being viewed as the next big shipping route over the next decade. According to the Marine Policy journal, China's has been eyeing Transpolar Sea Route (TSR) which connects the Atlantic and Pacific oceans as it will help to reduce distances in global trade. In the White Paper, China had claimed the Arctic is the "Polar Silk Road" connecting Asia and Europe with the expansion of China's ambitious Belt and Road initiative(BRI). "China is an important stakeholder in Arctic affairs. Geographically, China is a Near-Arctic State, one of the continental States that are closest to the Arctic Circle," the White Paper had said. The report also claimed that China has "long been involved in Arctic affairs" after it joined the Spitsbergen Treaty in 1925, "since then, China has exerted more efforts in the exploration of the Arctic, expanding the scope of activities, gaining more experience and deepening cooperation with other participants," it said. "China attaches great importance to navigation security in the Arctic shipping routes. It has actively conducted studies on these routes and continuously strengthened hydrographic surveys with the aim to improving the navigation, security and logistical capacities in the Arctic," the White Paper said while adding that China hopes to work with all parties to build a “Polar Silk Road” through developing the Arctic shipping routes.

'Polar Silk Road': Study says China showing 'most interest' in future Arctic sea route

China said Coronavirus pandemic effected nearly about 20% of projects under it's 'Belt & Road initiative'. Watch this video to get complete details on this.

China: Coronavirus pandemic effected nearly about 20% of projects under 'Belt & Road initiative'