<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108141116/636a56bc9c7e80680e0547a0jpeg.jpg" alt="" width="1500" height="1125"/><figcaption>Photo: SANGHAMITRA SUBBA</figcaption></figure>Finding pizza in Kathmandu has become almost as easy as ordering momos. From high-end restaurants to corner eateries, pizzas are everywhere.Enter Pizza Inn. With its unnervingly vertical and narrow building in mid-Lainchaur, this place is in a league of its own. The menu has vegetarian or non-vegetarian, regular or thin, wheat or even heart-shaped crust. The Meat Lover’s Pizza on a cracker-thin crust is ideal for the carnivores among us who like a generous helping of salami and ham but prefer to lay off bready crusts. But if you are not a meaty person, the Popeye, Chicken Hawaiian and Heat Wave are just as good.Beyond the pizzas, the restaurant offers cheesy garlic bread, chicken wings and pastas, staying true to the American-style pizza experience. Co-owner and chef Satya Deep KC worked at Papa Johns in the UK and wanted to transplant that sort of casual pizza experience to Nepal.KC makes everything in house, from the sauces to the dough, using fresh produce and a mixture of cheeses to create the pull. And you do not have to worry about the food not being fresh because everything is consumed the day it is made.KC created Pizza Inn with Abhishek Agarwal, both pizza lovers. “We wanted a different pizza place in Kathmandu that was affordable, accessible and of course, delicious,” says Agarwal. Appetizers start at Rs220 and the most expensive pizza is only Rs700.Chicken fingers with house-made hot sauce is a yummy starter – strips of chicken are covered in breading, deep-fried and coated with a mixture of savoury spices. Dipped into the spicy and tangy hot sauce, the two hit almost every flavour note.While pairing a cup of hot vanilla and blueberry tea with a thin-crust pizza may sound strange, the combination goes surprisingly well, and makes you feel healthier.Pizza Inn sports a distinct design, with the building divided into three differently decorated floors. The ground floor has an open eating area and multi-coloured walls decorated with drawings of pizzas. The first floor, on the other hand, is a sports watchers’ oasis, well-equipped with comfy couches, huge flat screen tvs and photos paying homage to both Nepali and foreign athletes.“As a huge sports fan, I wanted to create a space in the restaurant to allow other sports fans to gather and watch matches together with good food,” says Agarwal. During the US Open or European football matches, the floor is filled with cheering fans.The rooftop seating area is at canopy level with nearby trees, and isolated from the noise below. By 6pm the terrace is abuzz with birds, mainly parrots, flitting from tree to tree. But you will not forget that you are here mainly for the pizza.

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The Pizza Inn

<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107141112/636904a49c7e80680e037d34jpeg.jpg" alt="" width="1500" height="1000"/><figcaption>Photo: MONIKA DEUPALA</figcaption></figure>That the fourth <a href="https://archive.nepalitimes.com/article/nation/connecting-Bangladesh-China-India-Nepal,2966">BIMSTEC</a> summit would be declared a “success” was a foregone conclusion because there wasn’t really much expected of the sub-regional economic grouping.The two-day conference concludes on Friday with the signing of a charter on regional cooperation by the leaders of India, Bangladesh, Bhutan, Burma, Nepal and Thailand in Kathmandu. This is the first time after 2015 that Nepal is hosting such a high level summit, and the NCP government sees it as a feather in its cap, pulling all stops to spruce up the capital.“It is an honour for Nepal to host the Summit, and BIMSTEC has great potential, we just need to cooperate on poverty alleviation through closer economic cooperation and connectivity,” Foreign Minister Pradeep Gyawali said.But will Nepal really benefit? The proof of the pudding will be in whether BIMSTEC can go where SAARC has not because of the India-Pakistan rivalry. It also links South Asia to Southeast Asia, and it is now up to member countries to look beyond bilateralism.“We are going step by step, but have made good progress on cooperation, including the energy grid,” BIMSTEC Secretary General Shahidul Islam told Nepali Times. This could be important for Nepal, with its hydropower potential.However, only a day before the Summit, China’s Three Gorges indicated it may pull out of <a href="http://archive.nepalitimes.com/blogs/thebrief/2012/04/02/green-light-to-west-seti/">the long-delayed 750MW West Seti project</a> designed to export surplus power to India.SAARC countries, five of whom are BIMSTEC members, already have a framework agreement on energy cooperation, signed at the Kathmandu Summit in 2014 that should have allowed power trading if there was political will.But India issued its<a href="http://archive.nepalitimes.com/blogs/thebrief/2016/12/09/indian-power/"> energy trade guidelines</a> in 2016, declaring that it will import hydropower from Nepal and Bangladesh only if it is produced by companies that are at least 51% Indian owned. That effectively killed Nepal’s chance of getting the Chinese involved.Ex-Energy Secretary Dwarika Nath Dhungel says: “Regional energy agreements mean nothing unless India revises its cross-border energy trade policy.”In August, Kathmandu and Dhaka signed an MoU to export electricity to Bangladesh. Bangladesh PM Sheikh Hasina made that request during a visit to New Delhi in April 2017, but there was no mention of it in the joint communique. Nepal has never bothered to raise it with India.Nepal aims to generate 15,000MW more electricity in the next 10 years, and could export the surplus to Bangladesh and beyond to Burma and Thailand.There are also fears BIMSTEC may jeopardise Nepal’s relations with China. India has persuaded BIMSTEC members to conduct a  joint military exercise shortly after the summit. Foreign Minister Gyawali clarified Nepal will not join any military alliance, but China and Pakistan are unlikely to be convinced.

Bimstec facelift

Nepal’s cricket team first beat powerhouse West Indies in two out of three matches in September, the first time it won a match and then a series against a test-playing nation.&nbsp; Then the Rhinos played six qualifiers in Oman for the 2026 T20 World Cup which is being held in India and Sri Lanka from 7 February to 8 March next year. The national team qualified comfortably with two games to spare, and won all six matches anyway. In the three months before the World Cup, cricketers will play the second season of the Nepal Premier League from 17 November to 13 December.&nbsp; After a hugely successful first season, steady upgrades have been made. The flood-lit Tribhuvan University Cricket Ground has been fitted with 15,000 seats, even though this takes away from the festival-like atmosphere of fans on their feet on the grassy slope.&nbsp; Last season, matches began at noon and three in the afternoon. Late-evening matches in winter under flood lights will increase attendance and viewership.&nbsp; There is also now technology that will display how far a six was hit and how fast a ball was bowled. Foreign players who will play in the league include Chris Lynn, D’arcy Short, Ravi Bopara, and Sohail Tanvir, all good ex-international players that people have heard of.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251101031128_9db0830fb65d0743e3d36cc4b4473e61d750789028a130f5dff8a619307b0215.jpg" data-media-id="editor_0" data-image-id="20251101031128_9db0830fb65d0743e3d36cc4b4473e61d750789028a130f5dff8a619307b0215" data-rendition-name="original" width="1365" height="1803" loading="lazy" alt="Nepal cricket"> <figcaption>Aasif Sheikh drives through the covers on his way to 69 off 41 vs Samoa.</figcaption> </figure>  But the most important point of the Nepal Premier League will be to prepare and experiment for the World Cup, which starts less than two months after the NPL ends. Team Nepal will be extra eager to play well, given that the matches are happening in South Asia and Nepali fans can make the trip.&nbsp; Head coach Stuart Law will be watching each NPL match keenly, to gain more insight into how to best use his current starters.&nbsp; As each of the eight teams are only allowed a maximum of four foreign players in their starting eleven, Law and Nepali fans will also be scouting new talent who will be hungry to emerge and prove themselves to earn a place in the World Cup Squad.&nbsp; ALL-ROUNDERS One of the most unusual features of the current Nepali squad is how many all-rounders there are. Kushal Bhurtel, Rohit Paudel, Kushal Malla, Gulshan Jha, and Dipendra Singh Airee are all regular starters, and they all bat and bowl. Opener Aasif Sheikh is also the wicketkeeper.&nbsp; Airee, of course, is also an excellent fielder. In the first five games of the qualifiers, he got a record five runouts with direct hits, and was on a roll with a run in every single game. This depth means that almost always seven players bowl for Nepal, and the wealth of options keeps the opponent batting order guessing, but it may create hesitancy within the team in tough situations against stronger teams.&nbsp; Countries at the top level of the sport tend to have more specialists. Perhaps Stuart Law might want to tell Bhurtel to really focus on his batting, or Airee to hone his bowling, which seems to be their strengths. The team would be better off with them performing one aspect consistently well than being hit or miss with both. &nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251101031128_c30fdbab65736ea728f2f94fa121d2169e4d3627194ce1fe9de26eebdb3fc5b3.jpg" data-media-id="editor_1" data-image-id="20251101031128_c30fdbab65736ea728f2f94fa121d2169e4d3627194ce1fe9de26eebdb3fc5b3" data-rendition-name="original" width="957" height="1269" loading="lazy" alt="Nepal cricket"> <figcaption>Lalit Rajbhansi with tricky left arm spin, 3/13 vs Samoa.</figcaption> </figure>  POWERPLAYS The Nepali team likes batting first. It chased only against Japan, but they struggle to put up really competitive scores of say, above 170 unless two batsmen do really well.&nbsp; In the second match against the West Indies, Aasif Sheikh’s 68 and Sundeep Jora’s 63 set up Nepal at 173/6. Against Samoa, Aasif Sheikh had 69 and Airee had 53, before Lokesh Bam’s fierce 39 off 12 featuring 4 sixes set up 211/4.&nbsp; Besides these games, Nepal tends to score up to 150 batting first. To the experienced teams that Nepal will face at the world cup, this is not at all an intimidating score. One reason is that Nepal just cannot seem to get going in the first six powerplay overs, when there are limited fielders on the boundaries.&nbsp; A solution to this might be to promote Gulshan Jha up the order. Although Jha has also been an excellent batter in the end overs, using him at three or four might help set up a more productive powerplay and bigger scores. He should try it out with the Karnali Yaks.&nbsp; Despite all the controversy that comes with Sandip Lamichhane, and his strange decision to sit out the West Indies series minutes before the first match started, his output with the ball is undeniable.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251101031128_453d54ce627367c537d459c38d260d8aca1d56949c49c8023de582f3e72bb678.jpg" data-media-id="editor_2" data-image-id="20251101031128_453d54ce627367c537d459c38d260d8aca1d56949c49c8023de582f3e72bb678" data-rendition-name="original" width="1499" height="1000" loading="lazy" alt="Nepal cricket"> <figcaption>Nepalis turn out to support the team vs Samoa at Al Ameret Stadium in Oman.</figcaption> </figure>  He took wickets in each of the six qualifiers, most notably five vital ones in the match against Qatar that Nepal won by five runs. Lamichhane also gives away very few runs, which cuts some of the more part-time bowlers some slack.&nbsp; Airee is also economical, and his 3/22 was vital in the one-run win against the UAE. Together with Lamichhane the duo constricted the opposition in the middle overs. Veteran Sompal Kami has not been as productive with the ball, and gave away a lot of runs in the series against the West Indies.&nbsp; This is a weakness, because Kami does not contribute with the bat much. While his experience is valuable to ground the young Nepali team, Stuart Law should look out for fast bowlers during the NPL to help balance out quality spinners.&nbsp; One of the most impressive and professional parts of Nepal’s winning streak has been the attention to detail. The players have been generally excellent in the field, giving away very few runs due to wides or no balls. They had three run outs against the UAE and two against Qatar and Japan and in the first game against the West Indies.&nbsp; The fielders seem much calmer and focused when executing difficult catches, a welcome change from past complacency. This attention to detail makes the difference in narrow games and keeps morale high.&nbsp; The Nepali team has performed well, but besides the narrowly-beaten UAE, all the matches were against teams ranked lower in the world T20 rankings. And the series against the West Indies was against a weakened team. In the world cup, Nepal will be facing much stronger teams and will lack the element of surprise it had in the 2024 World Cup.&nbsp; If Nepal wants to keep improving, it now has to be able to dominate teams like Kuwait and Oman. It also should set up more series with associate nations like Scotland, Ireland, Namibia and The Netherlands. This will help accurately gauge the team’s progress and expose its weaknesses.

Nepal’s prospects at World Cup 2026

A little more than one month into its six-month term, Nepal's interim government recalled ambassadors from 11 countries: China, Japan, Malaysia, Qatar, Saudi Arabia, Israel, Russia, Spain, Germany, the UK, the US, and Japan.&nbsp;
Mostly appointed by previous governments, they have to return to Kathmandu by 6 November. The envoys who were retained, even if they were political appointees, tended to be women or from various ethnic minorities.
The recall has met with criticism back home. Prime Minister Sushila Karki is blamed for borrowing a page out of its predecessors’ playbook. Although it was a symbolically inclusive move in a diplomatic corps dominated by established groups, the government may have got its timing wrong.
On Sunday, however, the Supreme Court issued an interim order against government decision to recall the 11 ambassadors. The court questioned the neccesssity and justification of such a move, concerned that it could affect Nepal's relations with the host countries.&nbsp;
Karki has said <a href="https://nepalitimes.com/news/future-imperfect">her priority is to hold elections in March</a>, and by recalling Nepal’s emissaries from important capitals like Washington, London, Bonn, Tokyo, Abu Dhabi and Kuala Lumpur her government has cut channels of communication and support from development partners and with the international community.&nbsp;
Nepal’s anti-corruption GenZ protest and the devolution of the youth movement into <a href="https://nepalitimes.com/here-now/relocate-reallocate-recover">arson, looting, and violence</a> after the targeted killing of protestors in September put the nation in the international spotlight. And the interest was especially keen in neighbouring New Delhi and Beijing.&nbsp;
The Nepal unrest has sparked similar protests across the world from <a href="https://nepalitimes.com/here-now/nepal-genzs-inspired-filipinos">the Philippines</a> to East Timor, Madagascar and Peru. But there is also worry in India where exposure of #nepokids on social media as well as corruption in high places could instigate copycat youth unrest.
And in China, there is still a lingering memory of the deadly protests in 1989 Tiananmen Square. But the Chinese also suspect that some in the GenZ movement have links to free-Tibet. &nbsp;
Foreign policy experts in Nepal reject conspiracy theories about foreign backing for the GenZ, characterising it as mostly triggered by home-grown outrage over chronic corruption of the governing elite.&nbsp;
Throughout its history Nepal has always had to balance the geo-strategic interests of its neighbours: the British in India and the Chinese Empire, and more recently independent India and Communist China.
When former PM K P Oli resigned, he had <a href="https://nepalitimes.com/opinion/comment/when-xi-meets-modi-and-oli">just returned from a visit to Beijing</a> and was a week away from making an official visit to India. A new Nepali prime minister typically makes the first visit to India, but Oli broke that tradition last year by going to China to sign the Belt and Road Initiative (BRI) framework agreement.
"Oli was China's trusted partner supporting <a href="https://nepalitimes.com/news/china-syndrome">Nepal’s participation in BRI</a> and SCO (Shanghai Cooperation Organization)," says geopolitical analyst Sanjay Upadhya. "Now, some in Beijing are apprehensive that there is external support for the youth protests that contributed to Oli’s sudden departure. It is perceived as a strategic setback for China."
Despite an ongoing dispute with India over a 364 sq km border territory, Nepal is heavily dependent economically on India with which it has an open border.&nbsp;
Rulers in Kathmandu have usually leaned over backwards to be closer to China to counterbalance India’s gravitational pull following a strategy of ‘equidistance’ between the two giant neighbours.&nbsp;
Growing American and Western disinterest in the region is making India and China more assertive towards smaller nations. Educator Dovan Rai says, “China is also becoming more aggressive and trying to show its presence in and around South Asia.”
She adds, “Nepal is an important neighbour for China, especially considering issues it regards as sensitive, like the Dalai Lama and Tibet.”
Indeed, the Chinese are said to be suspicious about the links that the <a href="https://nepalitimes.com/here-now/nepal-s-historic-youth-dissensus">GenZ movement</a> was infiltrated by elements linked with Free Tibet or with US-based interests.&nbsp;
What must have especially raised eyebrows at the Chinese Embassy in Kathmandu was that the Dalai Lama’s office in exile in India congratulated Sushila Karki — the first time in history it has sent such a greeting to a new prime minister of Nepal.&nbsp;
Although Nepal’s two neighbours do not see eye-to-eye, both agree and are worried about instability in Nepal, and if it might trigger a refugee crisis, empower extremist factions, or attract Western interference.&nbsp;
Nepal’s September protests were preceded and succeeded by similar movements in the region and around the world. In light of this global eruption of youth frustration, and desire to lead from the front, the hardline governments of Nepal’s two neighbours are undoubtedly wary of the possibility of similar unrest within their own borders.&nbsp;
‘India advocates democratic legitimacy, while China prioritises control and predictability. Recent upheavals demonstrate that neither democracy nor stability alone suffices for sustainable nationhood,’ Upadhya wrote in a recent blog.
With early elections scheduled for 5 March, <a href="https://nepalitimes.com/news/one-month-later">the main challenge for Karki’s transition government</a> is to maintain dialogue and establish consensus between youth groups, political parties, and other agitating forces to participate in polls — all while ensuring there is no covert external influence.&nbsp;
Indeed, with <a href="https://nepalitimes.com/here-now/nepals-democracy-keeps-doubting-itself">Nepal’s democracy</a> at stake as well as new political forces with competing interests set to battle it out in a new political landscape, experts warn that there could be powers that will want to fish in troubled waters.&nbsp;
Explains Dovan Rai: “Along with soft power, foreign countries including our neighbours could intervene in the online information space to promote their interests in Nepal. Fake narratives and disinformation could be spread &nbsp;through digital platforms. We must be careful and vigilant about our digital space.”

Neighbourhood watch on Nepal

The autumn mountaineering season is not over yet, and already there have been 12 fatalities on Himalayan peaks in Nepal.
Of the 1,450 climbing permits issued, 436 were for Mt Ama Dablam (6,812m), 374 for Mt Manaslu (8,163m) and 186 for Himlung Himal (7,126m). There were deaths on all three mountains.
The death of two French climbers on Ama Dablam happened before unseasonal blizzards hit the mountains. But Cyclone Montha from the Bay of Bengal brought on high winds and up to 1m of snow in the peak trekking and mountaineering season.
This increased avalanche conditions, and made helicopter evacuation of stranded and injured climbers difficult. Lower down the mountains, more than 1,000 trekkers from Nepal and around the world were stuck in the Annapurnas, Manaslu circuit and the Khumbu.
However, there have also been allegations that it was not just the weather that delayed rescues. Multiple levels of bureaucracy and the need for flight permits to restricted areas like Manang and Manaslu critically delayed evacuation flights.
Italian climbers Farronato Stefano and Caputo Alessandro were found dead in their tent at Panbari Himal Camp I (6,887m) in the Manaslu area. They had been trapped by heavy snowfall since 28 October, and their bodies were found on 4 November by a team from the expedition organisers, Sherpa Alpine Trekking Service. The team was made up of high level mountain guides and expedition leader Valter Perlino.
The team had been climbing to Camp 3 but decided to descend to base camp because of thrombosis in Perlino’s left foot. The two climbers who would eventually get trapped decided to break at Camp I, a decision that would prove fatal after the projected six-day snowfall arrived two days early.
“They were sleeping in a tent and were buried under 2.5 metres of compacted snow. It happened during the night between Thursday and Friday. While they were sleeping, absurd,” said Perlino.
A deadly incident took place the morning of 3 November, when five foreigners and two Nepalis died in an avalanche on Yalung Ri at 5,630m in the Rolwaling. They were part of a larger group of 15 that were acclimatising for an attempt on the nearby Dolma Khang (6,332m).
Local authorities in Gauri Shankar Conservation Area say calls were immediately made to helicopter companies as well as various ministries in Kathmandu that have to issue permits to fly to the region bordering China.
But the permits for rescue flights to Rolwaling Valley were delayed by eight hours. Rescue flights in these areas require permission from the Ministry of Tourism, the Ministry of Defence, the Home Ministry, and the Civil Aviation Authority of Nepal (CAAN).
Experts say this should be exempted in times of emergency when time is of the essence. CAAN spokesperson Pratap Babu Tiwari claimed to not know of the avalanche on Yalung Ri and deflected questions to the permission department.&nbsp;
There was a similar tragedy on Himlung Himal in Manang as well. Australian Chin-Tark Chan, 49, was climbing with 8K Expeditions and fell ill on 27 October at about 6,800m, developing snow blindness and loss of mobility. The guides immediately called the US insurance company Global Rescue for authorisation of a longline rescue.
Global Rescue refused, saying a rescue at that height would violate Nepal’s aviation rules and put the pilot at unacceptable risk. They asked the guides to transport Chan to Camp 3 at 6,400m to a permitted altitude. Seeing it was a life-or-death situation for its client, 8K called in an aerial rescue anyway, but the helicopter could not land due to bad weather. Chan died slightly below Camp 3 on 29 October.
Global Rescue said in a statement that it was ready to send in a helicopter after Chan had been transported to Camp 3, but several hours were lost for that attempt, and the weather did not get better in the next few days.
To underscore just how dangerous helicopter rescues in the Himalaya can be in bad weather, a chopper from Altitude Air skidded off the helipad at Lobuche below Mt Everest while trying to rescue trekkers in whiteout conditions.&nbsp;
CAAN announced a ban on flights during blizzards or dense fog. While rescue missions are often heroic and courageous, they should not be foolhardy if conditions are unsafe and the risk to pilots and rescuers too high. This autumn was a lesson for future expeditions and for the Nepal government.&nbsp;
The Italian duo on Panbari were caught out by snow that arrived two days ahead of schedule, but the group on Yalung Ri should have postponed their ascent after multiple warnings from the Department of Hydrology and Meteorology to avoid high altitudes.

Deadly autumn in Himalayan climbing

Traditional donors have sharply scaled back their aid commitments to developing countries over the past year. Some, like the United States, have virtually eliminated their aid programs. According to the Organisation for Economic Co-operation and Development (OECD), official development assistance (ODA) from member countries <a href="https://www.oecd.org/en/about/news/press-releases/2025/04/official-development-assistance-2024-figures.html" target="_blank">declined by 7.1%</a> in 2024, its first annual drop in six years. This trend was not limited to a few major donors. Of the 33 members of the OECD’s Development Assistance Committee (DAC), 22 slashed their aid budgets, and only four countries met the United Nations’ target of allocating 0.7% of gross national income to ODA. The outlook for the coming year offers little hope for improvement, as major DAC donors have announced additional cuts. Most notably, US President Donald Trump’s administration has suspended most foreign aid and dismantled the Agency for International Development (USAID), which dispersed most US government aid dollars. Meanwhile, the United Kingdom plans to <a href="https://www.bbc.com/news/articles/clyrkkv4gd7o" target="_blank">reduce aid spending</a> from 0.5% of GNI to 0.3% by 2027. Similar retrenchment across Europe and North America is reshaping international assistance, disrupting humanitarian and climate-related programs, and creating financing gaps in critical sectors such as health, education, and clean energy. In our 2017 book <a href="https://www.cambridge.org/core/books/going-beyond-aid/B48F59C6D8D2790D403A1A0C44B37612" target="_blank">Going Beyond Aid</a>, we urged developing-country governments to reduce their dependence on foreign aid, not only because it was becoming an unreliable source of funding, but also because other, better ways of financing development were becoming more available. That message is more urgent than ever. As reliance on aid becomes untenable, the international community must mobilise a broader array of financing sources to advance green and sustainable growth. This includes national development banks, industrial investment funds, sovereign wealth funds, and institutional investment in public markets, as well as innovative mechanisms such as debt swaps and public-private partnerships (PPPs). These tools can unlock domestic resources, attract long-term investors, and create synergies between public goals and private capital. Equity investment offers a promising avenue for engaging non-traditional development partners while reducing developing countries’ dependence on debt. Government investment funds, public and private financial institutions, and other private actors can participate by taking equity stakes in public enterprises, financing infrastructure projects, or joining PPPs. Such participation not only alleviates debt burdens but also improves the performance and management of public assets. As government-funded, mission-driven institutions, public development banks (PDBs) have the potential to provide patient capital for green and sustainable investment in emerging and developing economies (EMDEs). Building on the <a href="http://www.dfidatabase.pku.edu.cn/index.htm" target="_blank">pioneering database</a> of public development and financial institutions created by the Institute of New Structural Economics at Peking University, future research can identify effective ways to harness these institutions to fuel low-carbon growth. Responding to growing demand from the economies of the Global South, development partners have increasingly adopted an “entire value chain” approach to the green transition in recent years. This strategy facilitates transfers of low-carbon technologies, diffusion of digital innovations (including trade in services), and industrial modernisation, enabling countries included in China’s Belt and Road Initiative (BRI) to accelerate their shift toward sustainable development. Empirical research supports this approach. An analysis covering 139 countries <a href="https://ember-energy.org/latest-insights/the-first-evidence-of-a-take-off-in-solar-in-africa/" target="_blank">finds</a> that, following policy directives to incorporate green and low-carbon principles into the BRI, carbon intensity (CO₂ emissions per unit of GDP) among participating countries declined significantly between 2013 and 2022. These findings are consistent with another <a href="https://ember-energy.org/latest-insights/the-first-evidence-of-a-take-off-in-solar-in-africa/" target="_blank">recent study</a> showing how China’s solar-energy expansion has helped transform Africa’s power sector. Investment in infrastructure and industrial development can also generate positive spillover effects. Evidence from Sub-Saharan Africa <a href="https://onlinelibrary.wiley.com/doi/full/10.1111/jors.70023" target="_blank">shows</a> that the presence of at least one Chinese-financed infrastructure project in a second-order administrative region (comparable to a municipality) is associated with a 5% increase in nighttime luminosity – a widely used proxy for economic activity. Neighbouring regions experienced a 10-15% rise in luminosity, indicating that the benefits of such projects extend well beyond the immediate investment site.  <figure><img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20251104131124_1a11d248a89b0785bc7d7f1d9f721e7e7a2563cbd579c3c672a0900220c19171.jpg" data-media-id="editor_7" data-image-id="20251104131124_1a11d248a89b0785bc7d7f1d9f721e7e7a2563cbd579c3c672a0900220c19171" data-rendition-name="original" width="720" height="405" loading="lazy" alt="development aid and China"></figure>  These outcomes underscore the critical role of infrastructure investment, particularly in energy and transportation projects. By improving electricity access, affordability, and connectivity, they reduce energy poverty, bolster public services, and stimulate economic activity in underserved areas. To meet the evolving challenges of development finance, both traditional and non-traditional donors and creditors should move beyond aid and adopt multidimensional strategies that combine trade, investment, infrastructure, green technology, and digital connectivity, including fintech solutions, to support EMDEs. Importantly, such collaborations should be viewed as a mutual learning process in which partners assume complementary roles and shared responsibilities. To be sure, there have been missteps along the way. China’s financing of coal-fired power plants before 2021, for example, had slowed reduction in CO₂ emissions. But these outcomes, once recognised as policy errors, can help strengthen accountability and foster self-correcting mechanisms within the international development ecosystem. Through ongoing learning and adaptation, global partners can build a more resilient, inclusive, and sustainable framework for development finance. © <a href="https://www.project-syndicate.org/">Project Syndicate</a> Justin Yifu Lin, a former World Bank chief economist and Senior VP, is the honorary dean of the National School of Development and director of the Institute of New Structural Economics at Peking University. Yan Wang is Senior Academic Researcher at Boston University’s Global Development Policy Center.

nepal-kathmandu

The Pizza Inn

Bimstec facelift

Nepal’s prospects at World Cup 2026

Neighbourhood watch on Nepal

Deadly autumn in Himalayan climbing

Development finance must shift away from aid