KATHMANDU, DECEMBER 3
Prime Minister KP Sharma Oli, who is on an official visit to China, met with President Xi Jinping and his counterpart Li Qiang.
The prime minister also extended an invitation to President Xi Jinping to visit Nepal. Xi replied that he would visit Nepal at an appropriate time.
Krishna Prasad Dhakal, spokesperson for the Ministry of Home Affairs, said that President Jinping announced the grant of 500 million yuan to Nepal.
"During the meeting, Chinese President Xi Jinping announced a grant of renminbi 500 million (approximately Rs. nine billion) to Nepal," Dhakal added.
Following a bilateral meeting between PM Oli and his Chinese counterpart Li Qiang this morning, officials from both countries signed an agreement and memorandum of understanding.
According to the list provided by the Ministry of Foreign Affairs, the MoUs signed during Prime Minister Oli's official visit include economic cooperation, trade promotion and the construction of physical infrastructure.
Prior to Oli's visit, the main power partners-Congress and UML-had agreed on a 'framework' for implementing BRI.
Taking to Facebook, the CPN-UML deputy general secretary congratulated PM Oli and Nepali NC President Sher Bahadur Deuba on their success in developing a consensus for the BRI cooperation framework. "This agreement will not only take Nepal's development partnership with China to new heights; it will also serve as a critical starting point for establishing a unified national view in foreign relations," reads his post.
Previously, disagreements arose between the ruling parties over a document titled 'Implementation Plan'.
Nepal signed a Memorandum of Understanding with China on the Belt and Road Initiative in 2017. However, the government has yet to make any important decisions regarding the implementation of the project.
According to the Ministry of Foreign Affairs, officials from the two countries signed the following documents:
1. MoU for Economic and Technical Cooperation
2. Letter of Exchange for Tokha-Chhahare Tunnel
3. MoU on Trade Promotion Cooperation
4. Protocol agreement on essential elements for "thermal" processing of buffalo meat for export from Nepal to China
5. MoU for Development Plan (Year 2024-2029)
6. Letter of exchange regarding financial and technical assistance
7. Handing over the certificate of completion of reconstruction of the nine-storey Basantpur Palace
8. MoU on Volunteer Chinese Language Teachers
9. MoU between Nepal Television and Chinese Media Group
According to the Ministry of Foreign Affairs, there is an agreement and understanding regarding the exchange of support, particularly in connectivity, industrial development, infrastructure development, medical cooperation, agriculture, trade, tourism, investment, science and technology, sports, disaster management, people-to-people contact, and poverty reduction.
The MoFA stated that today's bilateral talks contributed to the improvement of relations between the two countries.
PM Oli, who has been on an official visit to China since Monday, will return home on December 5.
