India commits Rs 4500 crore for development projects in Bhutan

New Delhi [India], June 28 (ANI): India has committed assistance of Rs 4500 crore for the implementation of development projects and Rs 400 crore for the transitional trade support facility during Bhutan’s 12th Five Year Plan, the Ministry of External Affairs Ministry said on Monday.

At the third India and Bhutan Development Cooperation talks held virtually today, progress of various developmental projects by India in Bhutan was reviewed by the two countries, the MEA said.

The annual development cooperation talks is an important bilateral mechanism to review the entire gamut of India’s development partnership with Bhutan.

India has committed Rs. 4500 crore for the implementation of development projects and Rs 400 crores for the transitional Trade Support Facility during Bhutan’s 12th Five Year Plan (2018 – 2023).

According to officials 77 large and intermediate projects and 524 Small Development Projects (SDPs)/ High Impact Community Development Projects (HICDPs) are at various stages of implementation under the 12th Five Year Plan of Bhutan.

The Indian delegation at today’s talks was led by Rahul Chhabra, Secretary (Economic Relations), MEA and the delegation from Bhutan was led by Kinga Singye, Foreign Secretary, Royal Government of Bhutan. Ruchira Kamboj, Ambassador of India to Bhutan, also attended the talks.

With Bhutan’s 12th Five Year Plan (2018-2023) completing its third year, the two sides reviewed the overall progress of the ongoing PTA projects, as well as the SDPs/HICDPs.

Bhutan’s Foreign Secretary commended India’s role in the socio-economic transformation of Bhutan and also highlighted the impact of HICDPs at the grassroots level. He also appreciated India’s gesture to frontload the release of funds for various projects, keeping in view the COVID-19 pandemic.

During the talks, both sides also agreed to implement some new PTA projects across various sectors including road infrastructure, water management, industrial parks and COVID-19 management, the MEA said in a statement.

“India deeply values its privileged partnership with Bhutan. The Indian side remains committed to continue to support Bhutan in its development efforts,” the MEA said.

The two sides agreed to hold the next Development Cooperation Talks on a mutually agreed date. The Development Cooperation Talks were held in a friendly atmosphere in keeping with the special relationship between the two countries, the statement added. (ANI)