Kathmandu, June 25: Prime Minister Pushpa Kamal Dahal said that the government will not take loans above 1.5% interest rate from China’s Belt and Road Initiatives (BRI). He said this while answering the questions raised by the MPs on the appropriation bill in the House of Representatives today.
Badri Pandey, MP from the NC, had questioned whether the government is planning to take loans at a higher interest rate under the BRI, PM Dahal made it clear that the government will not accept loans at above 1. 5% interest rate.
Pandey had said that the average interest rate of loans from the World Bank and Asian Development Bank is less than 1 percent and BRI’s loan is 4 percent on average and asked at what percentage they will take the loan.
Another Congress MP, Ramhari Khatiwada, questioned the Prime Minister on whether the government is planning to sign projects under the BRI today, the PM clarified that the process is on and it will be endorsed soon if not today.
Dahal also mentioned that he wants to take BRI projects as grants as possible. Currently, the average interest rate of foreign loans taken by Nepal is 0.93 percent. It has been seen that the interest rate of the loan given by China’s Exim Bank for Pokhara Airport is 5 percent.
People’s News Monitoring Service.
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