On Friday (28 December), Prime Minister Narendra Modi announced that India will be providing a financial assistance of Rs 4,500 crore to Bhutan as part of the 12th Five-Year Plan. The decision was announced after talks with the Bhutanese counterpart Lotay Tshering.
An integral part of the bilateral ties is the cooperation on hydro-power, PM Modi said. Furthermore, work on the Mangdechhu project will reach completion soon. Reassuring Tshering that India will continue to remain a trusted friend, Modi announced the financial assistance plan.
Exceptional and cherished ties.@PMBhutan Dr Lotay Tshering receives ceremonial welcome @rashtrapatibhvn in the presence of PM @narendramodi on his first overseas visit after assuming office of the Prime Minister of #Bhutan last month. pic.twitter.com/ZHB5vXqAJx— Raveesh Kumar (@MEAIndia) December 28, 2018
The Bhutanese PM said that PM Modi was the first head of state to congratulate him on his electoral victory. Bhutan’s new five-year plan will commence this year and end by 2022. After receiving a ceremonial welcome at the Rashtrapati Bhavan, Minister of External Affairs Sushma Swaraj congratulated the PM on his assumption of high office, The New Indian Express reported.