The fifth India-Bhutan Development Cooperation Talks, co-chaired by Foreign Secretary Vikram Misri and his Bhutanese counterpart Dasho Pema Lektup Dorji on Thursday, focused on the implementation of projects under Bhutan’s 13th Five-Year Plan, the Indian Embassy in Bhutan said in a social media post.
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The two sides reviewed the progress and implementation of India-supported projects across diverse sectors, it said.
Bhutan appreciated India’s significant support and its contribution to the country’s socio-economic development, the mission said.
The two foreign secretaries also virtually inaugurated the Thimphu Ecological Park and the Olakha Park, developed under the “Green Infrastructure and Open Spaces in Thimphu” project funded by India as part of bilateral economic development.
An agreement for a concessional line of credit of Rs 4,000 crore (Nu 40 billion) was exchanged between the Export-Import Bank of India and Bhutan’s Ministry of Finance to support development initiatives in the country, the embassy said.The two sides also exchanged a memorandum of understanding (MoU) for cooperation in health education and research between the All India Institute of Medical Sciences (AIIMS) and Bhutan’s Khesar Gyalpo University of Medical Sciences, it said.
As part of India’s support for Bhutan’s green mobility initiatives, 45 electric vehicles were handed over to the Royal Government of Bhutan.
A total of 12 new PTA projects amounting to INR/Nu 3,320 million (Rs 332 crore) were approved during the talks, covering sectors such as infrastructure, healthcare, agriculture, urban amenities and disaster management. With this, a total of 82 PTA projects have been approved under the 13th FYP, amounting to INR/Nu 68,600 million (Rs 6,860 crore).
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The Government of India has also released INR/Nu 12,500 million (Rs 1,250 crore) towards the Economic Stimulus Programme, INR/Nu 7,352 million (Rs 735.20 crore) towards High Impact Community Development Projects, and INR/Nu 2,000 million (Rs 200 crore) towards the Programme Grant. The meeting reviewed the progress in the utilisation of these funds.
India is Bhutan’s largest development partner and has been extending financial and technical assistance for infrastructure, connectivity, education, health and capacity-building projects over the decades.
New Delhi has committed support for Bhutan’s 13th Five-Year Plan as part of its longstanding development partnership with the neighbouring Himalayan kingdom.