India commits Rs.45 billion for Bhutan’s development for 12th five-year plan

To strengn India’s diplomatic ties with Bhutan furr, India has anunced allocation of Rs. 45 Billon for Bhutan’s development in its 12th Five-year plan. In latest support plan, Indian government has pledged Rs. 45 billion for different development projects and Rs. 4 billion for Transitional Tre Support Facility.

According to a press release, in 12th Five year plan for Bhutan’s development, Indian government has asserted support for various new projects of Royal government, including COVID-19 Response Project, Water Flagship Project, Development of Motanga Industrial Park and Stray Dog and Waste Manment Project.

India commits Rs.45 billion for Bhutan’s development for 12th five-year plan

Third India-Bhutan Development Cooperation Talks were held earlier on 28 June 2021 in a virtual mode, and signing ceremony was held today on September 21. On Tuesday, Foreign Secretary of Bhutan, Dasho Kinga Singye and Ambassor of India to Bhutan, Ruchira Kamboj signed Minutes of Third Bhutan - India Development Cooperation Talks.

After signing ceremony, Indian Ambassor Ruchira Kamboj said, " Development Assistance model between India and Bhutan is unique, in that it is based off mutual trust and mutual understanding and always off wishes, aspirations and priorities of Bhutanese people."
 

Apart from this, Bhutan's Foreign Secretary praised India's contribution to country's socio-ecomic development and emphasised impact of its projects on ground. He also praised India for its initiative to prioritise release of funds for various initiatives in light of COVID-19 outbreak.

Under plan, 77 large and intermediate projects, as well as 524 Small Development Projects (SDPs) and High Impact Community Development Projects (HICDPs), are at various phases of implementation. On Tuesday, two nations evaluated overall development of continuing Project Tied Assistance (PTA) projects, as well as SDPS/HICDPs.

Bilateral Development Cooperation Talks are an important platform for India and Bhutan to evaluate ir whole development collaboration. Bhutan's 11th Five-Year Plan h a budget of Nu. 213 billion, with main goals being self-sufficiency and inclusive green socio-ecomic development. Indian government has promised to contribute Rs. 28 billion to Bhutan's 11th Five-Year Plan, with Rs. 45 billion in Project Ties Assistance (PTA), Rs. 8.5 billion in Small Development Projects (SDP), and Rs. 8.5 billion in Programme Grant / Development Subsidy.

Im: Twitter