JSP-N meeting: Former ambassador Karna slams China's BRI

Kathmandu, August 13: The central committee of the Janata Samajwadi Party (JSP) Nepal recently discussed China's ambitious Belt and Road Initiative (BRI) during their meeting.

The training, which began on August 11, focused on the country's geopolitics and foreign policy. On the first day, central committee members received insights on the current geopolitical situation from former ambassador Bijayakanta Karna.

Karna alleged that China's BRI, while often portrayed as a development project, is actually a strategic initiative driven by China's own interests rather than Nepal's benefits. He stated that BRI is not merely a project but a strategy under China's Ministry of Foreign Affairs.

According to Karna, China aims to strengthen its influence in South Asia, Africa, Eastern Europe, and other regions through the BRI. He claimed that despite the memorandum of understanding for BRI being signed in 2017, its implementation has been stalled due to widespread skepticism among Nepalese people.

Karna accused that China uses BRI to ensnare countries in debt, presenting it as a form of commercial aid rather than grant assistance. He claimed that initially, Nepalese ministers viewed BRI as a form of grant aid, but later became wary when it was recognized as commercial financing.

Karna also said that Nepal has taken concessional loans from Japan and the World Bank at 1-2 percent interest over 30-35 years, whereas China offers loans with 4 percent interest for 10-12 years. He referenced Sri Lanka's experience with BRI as a cautionary example.