Lumbini-Kapilvastu Day Blog

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Another Chinese foundation plans to raise $ 3b to make Lumbini ‘magnet for Buddhists’

Posted by Ram Kumar Shrestha on June 20, 2011

Months after plans of a Chinese private sector company to invest Rs 8 billion to develop Lumbini as an International

Buddha Center hogged media headlines there comes news that a Chinese-backed foundation is planning to raise $ 3 billion to help Nepal develop Buddha’s birthplace.

According to Reuters, the Asia Pacific Exchange and Cooperation Foundation plans to raise the aforesaid amount at home and abroad “to build temples, an airport, a highway, hotels, convention centres and a Buddhist university in the town of Lumbini.”

Interestingly, UCPN (Maoist) chairman Pushpa Kamal Dahal is the vice-chairman of the foundation which aims to transform Lord Buddha’s birthplace in southern Nepal “into a magnet for Buddhists in the same way as Mecca is to Muslims and the Vatican for Catholics”, the report adds.

The foundation signed a memorandum of understanding with Nepal government last month to jointly develop and operate Lumbini.

According to the report, the foundation also pledged to bring communications, water and electricity to Lumbini.

“Lumbini will transcend religion, ideology and race. We hope to rejuvenate the spirit of Lord Buddha,” Xiao Wunan, a devout Buddhist who is executive vice president of the foundation, told the news agency.

The development of Lumbini will also help boost government revenues, create jobs and improve infrastructure in the impoverished corner of Nepal, the report cited the memorandum as stating. Read the rest of this entry »

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