India Boosts Bhutan's Economic Recovery with New Support
Click to start listening
Synopsis
India has further strengthened its support for Bhutan's Economic Stimulus Programme by providing a cheque of 2.5 billion Bhutanese Ngultrum. This marks the third tranche of India's total commitment of 15 billion Ngultrum aimed at enhancing Bhutan's economic recovery and development efforts.
Key Takeaways
- India provided 2.5 billion Bhutanese Ngultrum for Bhutan's ESP.
- This is the third tranche of a total of 15 billion Ngultrum.
- Support aims to rejuvenate Bhutan's economy and create jobs.
- Collaboration aligns with Bhutan's 13th Five-Year Plan.
- India's aid is crucial for Bhutan's socio-economic development.
Thimphu, Feb 19 (NationPress) In another remarkable demonstration of the enduring friendship and close interpersonal connections, India presented a cheque amounting to 2.5 billion Bhutanese Ngultrum (Rs 250 crore) as the third installment of the Government of India's contribution of 15 billion Ngultrum (Rs 1500 crore) for the Economic Stimulus Programme (ESP) initiated by the Royal Government of Bhutan last year.
While delivering the cheque to Bhutanese Finance Minister Lyonpo Lekey Dorji in Thimphu, the Indian Ambassador to Bhutan, Sudhakar Dalela, reiterated India's dedication to collaborating with Bhutan in executing the 13th Five-Year Plan.
According to the Embassy of India in Thimphu, "India-Bhutan development partnership!" emphasized the Government of India's steadfast resolve to assist the Royal Government of Bhutan in implementing the 13th Five-Year Plan in alignment with Bhutan's national development priorities.
Dorji expressed heartfelt thanks to the Government of India for its unwavering support, acknowledging that India's developmental aid has been vital in Bhutan's economic recovery efforts. He highlighted that the ESP support has been essential in fostering economic activity and generating employment.
The ESP was initiated by the Bhutanese government last year to rejuvenate the domestic economy.
Previously, India disbursed Nu 5 billion (Rs 500 crore) in two prior tranches to the Bhutanese government.
India's developmental collaboration with Bhutan remains a critical element of their diplomatic relations. In July 2024, during Foreign Secretary Vikram Misri's visit to Thimphu, India agreed to consider expediting the full allocation of Nu 15 billion (Rs 1500 crore) to Bhutan as part of the ESP within the next 18 months, contingent on progress in implementing the proposed activities.
During Prime Minister Narendra Modi's visit to Bhutan in March 2024, he announced India's development assistance of Nu 100 billion (Rs 10,000 crore) for the 13th Five-Year Plan duration. The Royal Government of Bhutan continues to express deep gratitude for the "invaluable support" India provides for the nation's socio-economic advancement.
