Nepal Took a Risk on a $500 Million U.S. Grant. It May Now Regret It.

Nepal, the small Himalayan nation bordering China, was negotiating with Beijing over a major injection of infrastructure financing when the United States stepped in with a lucrative offer.

Over five years, the American government would give the country $500 million in grants to expand its electricity grid and improve its roads — a huge sum in a country where the average annual income is about $1,400.