Nepal has signed 8 billion dollar deal with China The agreement was signed on Wednesday on the second day of Nepal Prime Minister KP Sharma Oli's visit to China. News Business Standard and South Asian Monitor
It is said in the news that these contracts are between government and private sector. Under the agreement, Chinese investors will invest money in Nepal for hydroelectricity, water resources, cement factories and fruit rice and farm development. These contracts were signed at the Nepal embassy in Beijing.
On signing the contract, Xi said that China is ready to increase bilateral relations with Nepal under the 'Belt and Road Frame'. Beijing is committed to protect Nepal's sovereignty, said Shi.
KP Oli goes to China on a 5-day visit on Monday. On Thursday afternoon, Beijing will be signing a few other Memorandums of Understanding between the Oli and his Chinese counterpart Li Keqiang, at the delegation level.
It should be noted that Oli was elected the Prime Minister of Nepal in February. Then this is his first visit to China. Earlier he visited India.