Nepal and China Sign Revised Belt and Road Cooperation Framework

05 Dec 2024 CW Team

Nepal and China have signed a revised framework for the Belt and Road Initiative (BRI), replacing the term "grant financing" with "aid financing," a move that allows for greater flexibility in funding options, including both grants and loans. The agreement was formalised during a ceremony in Beijing, attended by senior officials from both countries, as confirmed by Nepal's Ministry of Foreign Affairs on social media platform X. The language change comes after China declined Nepal's proposal for Beijing to fully fund BRI projects through grants, rejecting Kathmandu's stance against taking loans under the initiative. This framework agreement was a key focus of Nepalese Prime Minister K.P. Sharma Oli’s official visit to China, which concludes on December 5. Photos released by Nepal’s Ministry of Foreign Affairs show the framework being signed by the foreign secretaries of both nations. Negotiations to finalise the framework included informal discussions on December 3 to reach a compromise. Prime Minister Oli expressed optimism about the agreement, stating on X, "Nepal-China economic cooperation will further strengthen under the Belt and Road Framework Cooperation." He also highlighted his productive discussions with Chinese Premier Li Qiang, NPC Chairman Zhang Leji, and President Xi Jinping during his visit. The revised framework addresses concerns raised by Nepal’s political opposition, particularly the Nepali Congress, which opposes loans under the BRI. Nepal has prepared a list of projects to be funded solely through grants, prompting China to amend the draft framework by replacing "grant financing" with the broader term "aid financing." Although no final decisions on project financing were made during Oli’s visit, discussions between Nepali Foreign Minister Arzu Rana and Chinese officials explored possibilities for loan-based funding for some BRI projects. A joint statement released on December 3 indicated both nations’ intent to formalise agreements on the Trans-Himalayan Multi-Dimensional Connectivity Network (THMDCN) and the Belt and Road Cooperation framework soon. This agreement is expected to shape future Nepal-China economic collaboration and advance connectivity and development initiatives under the BRI. (ET)

Nepal and China have signed a revised framework for the Belt and Road Initiative (BRI), replacing the term grant financing with aid financing, a move that allows for greater flexibility in funding options, including both grants and loans. The agreement was formalised during a ceremony in Beijing, attended by senior officials from both countries, as confirmed by Nepal's Ministry of Foreign Affairs on social media platform X. The language change comes after China declined Nepal's proposal for Beijing to fully fund BRI projects through grants, rejecting Kathmandu's stance against taking loans under the initiative. This framework agreement was a key focus of Nepalese Prime Minister K.P. Sharma Oli’s official visit to China, which concludes on December 5. Photos released by Nepal’s Ministry of Foreign Affairs show the framework being signed by the foreign secretaries of both nations. Negotiations to finalise the framework included informal discussions on December 3 to reach a compromise. Prime Minister Oli expressed optimism about the agreement, stating on X, Nepal-China economic cooperation will further strengthen under the Belt and Road Framework Cooperation. He also highlighted his productive discussions with Chinese Premier Li Qiang, NPC Chairman Zhang Leji, and President Xi Jinping during his visit. The revised framework addresses concerns raised by Nepal’s political opposition, particularly the Nepali Congress, which opposes loans under the BRI. Nepal has prepared a list of projects to be funded solely through grants, prompting China to amend the draft framework by replacing grant financing with the broader term aid financing. Although no final decisions on project financing were made during Oli’s visit, discussions between Nepali Foreign Minister Arzu Rana and Chinese officials explored possibilities for loan-based funding for some BRI projects. A joint statement released on December 3 indicated both nations’ intent to formalise agreements on the Trans-Himalayan Multi-Dimensional Connectivity Network (THMDCN) and the Belt and Road Cooperation framework soon. This agreement is expected to shape future Nepal-China economic collaboration and advance connectivity and development initiatives under the BRI. (ET)

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..