Nepal and China on Wednesday signed a "Framework for Belt and Road Cooperation" during the visit of Prime Minister KP Sharma Oli by replacing 'grant financing' with "aid financing."
The agreement was formalized during a special ceremony held in Beijing between the Government of Nepal and the Government of China, the Ministry of Foreign Affairs said on X.
Agreement between the two countries formally got inked after the term "aid financing" was replaced with "grant financing." While a grant refers to a subsidy, aid can encompass both grants and loans, offering more flexibility in the terms of assistance.
Bu hikaye The Statesman dergisinin December 05, 2024 sayısından alınmıştır.
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Bu hikaye The Statesman dergisinin December 05, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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