China got a big deal. Nepal got debt, a pricey airport

The new international airport in Pokhara, Nepal, built with Chinese financing and constructed by Chinese companies, has become an economic burden for Nepal. The airport, part of China's Belt and Road Initiative, has raised concerns over Chinese control and debt. China CAMC Engineering, the construction arm of a state-owned conglomerate, dictated terms to maximize profits and limit Nepali oversight. The airport's association with the Belt and Road Initiative has also strained relations with India, as no Indian airlines currently plan to operate there. Additionally, the airport has yet to attract international flights, casting doubt on its ability to repay loans.

from World News Headlines, Latest International News, World Breaking News - Times of India https://ift.tt/wRDeUXo

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