New Delhi: India will provide development assistance of Rs50bn to Bhutan over the next five years, a joint statement said after the Himalayan nation’s visiting leader, Lyonchhen Tshering Tobgay, met Prime Minister Manmohan Singh yesterday.
According to the joint statement, India’s assistance package for Bhutan’s 11th Five Year Plan (July 1, 2013-June 30, 2018) was agreed upon at the meeting between the two prime ministers.
“India will contribute Rs45bn towards Bhutan’s 11th Plan, as well as Rs5bn towards an economic stimulus package,” said the statement.
India also reiterated its commitment to install an additional 10,000 MW of power generating capacity in its Himalayan neighbour even as the two sides expressed satisfaction at progress in the three ongoing projects, said the statement.
During the meeting, while India reiterated its commitment to Bhutan’s socio-economic development, Tobgay thanked Manmohan Singh for the support extended to his country’s development and expressed keenness to strengthen people-to-people links.
The two sides also reaffirmed trust and confidence between their countries and their mutual security interests.
Tobgay arrived in Delhi on Friday on a six-day state visit.
This is Tobgay’s first foreign visit after being elected prime minister, following the victory of his Peoples Democratic Party in the July 2013 elections.
The polls were held against the backdrop of India cutting off subsidy on kerosene and cooking gas in June, though New Delhi denied there was any political intention and said that the 10th Plan, under which India was providing such assistance, had expired on June 30.
IANS
