![]() ![]() Several opponents stated that because the MOU was struck during Pun’s tour to China, the loan was given without going through a formal procedure of competitive bidding. Pun and the Export-Import Bank of China (EXIM) signed a memorandum of understanding (MOU) to offer a $215 million financing for the Pokhara International Airport project. One claim concerns the position and functioning of Barshaman Pun, a former Minister of Energy, Water Resources, and Irrigation in the Nepalese government. ADB then abandoned the project as a result of the government’s approach. Initially, the Asian Development Bank was willing to fund the project after JICA performed a feasibility analysis and suggested it be built in phases.įurther, because of the many detours and conflicts of interest involved, the previous administration planned to build the massive project all at once. It aims to promote tourism in the Pokhara region, one of Nepal’s most well-known tourist attractions. Asian Development Bank backed out of the projectĪs previously noted, the new airport has been built to offer more flight options to local, national, and international travellers. Chinese loans have famously high-interest rates and based on certain estimates, the rates may even be significantly, even multiple times more than those offered by foreign lenders. This may result in long-term increases in Nepal’s interest payments, which might substantial strain on the nation’s resources. While the loan was initially welcomed by Nepal for providing it with a much-needed boost in the construction of its infrastructure, several serious questions have been raised over the loan’s conditions. According to the Khabarhub article, despite the public and government authorities’ early enthusiasm, the airport’s bleak operating outlook and lack of readiness have contributed to the pessimism. Nepal agreed to a $215 million loan from China’s Exim Bank in 2017 to help finance the development of the Pokhara International Airport. While it is anticipated to handle one million passengers a year and also serves as the aerial gateway to the Himalayan and Annapurna regions in Nepal, the project could be accomplished only after China’s bank agreed to fund the construction of the Airport.Ĭhina is Nepal’s largest foreign lender and has made significant investments in the nation’s infrastructure. The Pokhara International Airport project replaced the existing Pokhara Airport, which was commissioned in July 1958 to boost the country’s civil aviation sector and contribute to economic and social development, as well as tourism. ![]() ![]() The country fears that the project might become another expensive venture which fails to provide returns.Ī recent article by Adhiraj Regmi in Khabarhub discusses the issue. The Pokhara International Airport in Nepal inaugurated by Prime Minister Pushpa Kamal Dahal Prachanda on January 1 this year is becoming a matter of concern as the airport has since its inauguration received not even a single international flight. ![]()
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