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Nepal's Prime Minister Pushpa Kamal Dahal recently announced diplomatic efforts to transform a loan for Pokhara International Airport into a grant, acknowledging its failure to generate income and its mounting debt.
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India, under its 'Neighbourhood First' policy, has always come forward to help debt-ridden Sri Lanka, and in the latest instance, New Delhi distributed the ration in Kalmunai, the Indian High Commission in Colombo said.
Warning developing countries of taking loans from China through its Belt and Road Initiative (BRI), Bangladesh Finance Minister Mustafa Kamal said that the nations must think twice about these loans as Beijing's poor lending decisions risk pushing these nations into debt distress.
China’s violation of agreements on not massing forces at the Line of Actual Control (LAC) is the reason why its relations with India are going through a difficult phase, external affairs minister S Jaishankar has said while warning nations not to get sucked into a debt trap by accepting Chinese aid.
Praising organic farming as a successful technique that saves farmers from the debt trap and makes them self-reliant, Rashtriya Swayamsevak Sangh chief Mohan Bhagwat said on Friday that those in opposition to organic farming must get down from their high horses and see the success that farmers utilising the technique are reaping.
Sri Lanka had to cancel Pakistan Prime Minister Imran Khan's address to Sri Lankan parliament owing to sustain its relations with India. The decision is also stated to have affected due to increasing debt trap of China over the island nation.
Loan request worth Rs 700 million dollars from Sri Lanka to Beijing is on the way of negotiations.
