Belt and Road foundation for global development, poverty elimination: Nepali daily

KATHMANDU, July 21 (Xinhua) -- The Belt and Road Initiative (BRI) proposed by China in 2013 is "the foundation for global development and the elimination of poverty," said a recent article published by Kathmandu Tribune, an online English daily in Nepal.

Since the launch of the BRI, new forms of international institutions have emerged to finance infrastructure development, said the article, referring to the Asian Infrastructure Investment Bank, the Silk Road Fund and the New Development Bank.

"These are important alternatives to the existing insufficient financing of the present global system," said the opinion piece published on July 13.

The BRI is a pathway that represents a bright future for mankind, the article said, adding "nations working together for the common aims of peace and development must become a new chapter in mankind's history."