Avoid BRI Loan Agreement with China: MP Urges Govt.

Shanti Bishwakarma, a member of the House of Representatives, has urged the government not to enter into a loan agreement under China’s ambitious Belt and Road Initiative (BRI). Citing existing financial burdens and the potential risks posed by BRI projects, MP Bishwakarma cautioned against further indebting the nation.

Speaking during the zero hour of the House of Representatives meeting on Thursday, MP Bishwakarma stated, “Already our country and its people are currently in a situation where they are unable to recover due to the burden of debt. Especially with projects like the BRI imposing substantial debt burdens, managing such debt could pose a significant challenge in our country.”

She emphasized that lacking a strong economic foundation to repay debts and being financially dependent could undermine national independence and policy autonomy. She als0 urged the government to explore alternative funding arrangements, proposing that BRI funds from China be considered as grants rather than loans.

“If there is a loan agreement, there could be situations similar to what Sri Lanka, Zambia, and Pakistan faced, where difficulties in repayment adversely affected their economies. Therefore, I urge you not to enter into a BRI loan agreement,” said MP Bishwakarma.