KATHMANDU: Nepali Congress (NC) Joint General Secretary Dr Prakash Sharan Mahat has said it is the responsibility of the incumbent Nepali government to do serious home work to make Belt and Road Initiative (BRI) a win-win proposition.

Stating that wide consultation in the identification, conceptualization and implementation of the project is a must for the success of BRI projects, he said the projects should be selected on the basis of national consensus with in-depth cost-benefit analysis and stakeholders’ adequate voices, including that of major political parties and private sector.

Taking part in a Zoom conference organized by hosted by the International Department of Communist Party of China Central Committee on Tuesday, he said the government needs to avoid environmentally unsustainable and economically non-viable projects.

“The funding mechanism of the projects should be an appropriate blend of grants and preferential loans,” he said adding that the terms and conditions of the loan should be at least at par with multilateral financial institutions.

Dr Mahat further added that the BRI projects need to be designed in such a manner that it maximizes forward and backward linkages with the domestic economy and uses domestic materials, knowledge, skills and labour, wherever appropriate.

“This guarantees the sustainability of the project,” he maintained.

Stating that development is not merely building infrastructure, he said it is building productive capacity of the nation and enhancing capability of the citizens.

“For this to happen, acquisition, adaptation and use of technology is the key. Thus, we expect technology transfer as a central component of each BRI project,” said Dr Mahat.