The deal will see China plough money into Nepal for a series of projects including boosting its road network, power grid and a new railway connecting the capital Kathmandu with Lhasa in Tibet. Photo: AFPKathmandu: Nepal on Friday signed up to China’s new Silk Road drive, a massive infrastructure project spanning some 65 countries at the centre of the Asian giant’s push to expand its global influence. The long discussed deal between impoverished Nepal and its much bigger neighbour comes just days before China hosts a summit for 28 leaders near Beijing, showcasing the ambitious plan. In Kathmandu, China’s ambassador to Nepal Yu Hong appeared aware of such criticism and described the plan as a “symphony performed by an orchestra” not China’s “solo show” in a short speech at the signing ceremony. “The One Belt, One Road Initiative will bring new opportunities for China-Nepal cooperation and South Asia development,” she added.

Source: Mint May 12, 2017 06:45 UTC