Modi govt. announce Rs 4,500 cr. financial assistance to Bhutan

Prime Minister Narendra Modi announced that India will give Rs 4,500 crore financial assistance to Bhutan for its 12th five-year plan after discussion  with his Bhutan Counterpart Lotay Tshering. This is second time this month that Modi govt. has announced financial assistance after announcing 1.4 billion dollar aid to Maldives on 17th December.

Tshering arrived in New Delhi on Thursday on his first foreign visit after taking charge as the Prime Minister of Bhutan last month following his party’s victory in the general elections.

In his media statement, Modi said hydropower cooperation with Bhutan is a key aspect of bilateral ties and that work on the Mangdechhu project will soon be completed. He assured the Bhutanese prime minister that India, as a trusted friend will continue to play an important role in Bhutan’s development.

Tshering on his part noted that Prime Minister Modi was the first head of state to congratulate him on his electoral victory.   

Bhutanese PM also thanked India for its support to Bhutan’s development needs. The new five-year plan of Bhuran began this year and will continue till 2022.

Earlier, Tshering was accorded a ceremonial welcome at the Rashtrapati Bhavan. External Affairs Minister Sushma Swaraj also called him on the Bhutanese premier this morning.

Swaraj congratulated Tshering on the assumptionof the high office of Bhutan’s prime minister and the two leaders had a “warm exchange of views” on important aspects of the bilateral relationships, Ministry of External Affairs Spokesperson Raveen Kumar said.

Tshering also laid a wreath at Mahatma Gandhi’s samdhi at Rajghat.