China has accepted a proposal from Nepal to invest in mega projects in the Himalayan country under the Belt and Road initiative to link its border areas with road and railway networks, a media report said today.
Nepal's transport minister Ramesh Lekhak, who is on a visit to China, had proposed to his Chinese counterpart Li Xiaopeng that they work to link Nepal's border areas with road and railway networks, The Kathmandu Post reported.
Li accepted the proposal to investment and extend support in mega projects in Nepal, the report said, citing Lekhak's personal secretary Janak Bhatta.
During their meeting, Li said that a new step has started in Nepal's economic development after its participation in the ambitious One Belt, One Road initiative, that aims to link China with European and African markets through Asia.
The two countries have named Nepali Ambassador to China Leelamani Paudyal and the general manager of International Department of China's transport ministry as the focal persons for facilitating Chinese investment in mega projects.
Former Nepali prime minister KP Sharma Oli and Chinese Premier Li Keqiang had agreed to cooperate in several areas, including the transportation sector, during the former's official visit to Beijing in March 2016.
That was followed by Chinese President Xi Jinping's assurance to Nepal Prime Minister Prachanda during that the Chinese government is ready to initiate construction work on the cross-border railway link between the two neighbors and boost trade and connectivity.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)