China gives India neighbour Nepal $118 mn aid even as ambitious BRI loses steam
Amid reports of India's neighbours, Pakistan and Sri Lanka reeling under a Chinese debt-trap, yet another neighbour of India is following the same footsteps. Following a meeting between the foreign ministers of China and Nepal, the two countries have agreed to build the so-called Trans-Himalayan Multi-Dimensional Connectivity Network. As part of the Belt and Road Initiative (BRI), China has agreed to finance a feasibility study for a cross-border railroad with Nepal and has offered $118 million for projects in the nation with Chinese assistance. The Chinese foreign ministry also announced that it will send experts to perform assessments for the railway this year. Watch this video for more details.