India Commits Assistance Of Rs 4,500 Crore For Implementation Of Development Projects In Bhutan

India Commits Assistance Of Rs 4,500 Crore For Implementation Of Development Projects In BhutanPM Narendra Modi (R) and PM of Bhutan Dr Lotay Tshering (L) (Image courtesy of twitter.com/MEAIndia)

Deepening the bilateral relationship between India and Bhutan, New Delhi has committed assistance of Rs 4,500 crore for the implementation of development projects and Rs 400 crore for transitional trade support facility, reports Livemint.

According to the Ministry of External Affairs, India's commitments have been made under Bhutan's 12th Five Year Plan. This comes as the two nations on Monday (28 June) held the third India and Bhutan Development Cooperation talks. The talks were held virtually, and the officials from the two sides reviewed the progress of various developmental projects by India in Bhutan.

It should be noted that as many as 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.

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