India announced 5000 Crore Aid for Bhutan's Development Work

Sep 10, 2013 15:26 IST

The Prime Minister of Bhutan, Lyonchhen Tshering Tobgay paid an official visit to India since 30 August 2013 to 4 September 2013. During this visit, India and Bhutan discussed all areas of mutual interest and cooperation.

The main outcomes of the discussions were:
1. Government of India reiterated its commitment to Bhutan's socio-economic development. The two countries agreed to work together to further strengthen bilateral relations. Prime Minister Tshering Tobgay thanked India for the support extended for Bhutan's development and expressed keenness to strengthen people-to-people links.
2. Government of India's Assistance Package for Bhutan's 11th Five Year Plan for the period 1 July 2013 to 30 June 2018, was agreed upon. At Bhutan’s request, India will contribute 4500 Crores rupees towards Bhutan's 11th Plan, as well as 500 Crores rupees towards an Economic Stimulus Package.
3. The importance of continued cooperation in developing hydroelectric projects in Bhutan was also agreed upon. India reiterated its commitment to install an additional 10000 MW of generating capacity. The two sides expressed satisfaction at the progress in the three ongoing projects.
4. India expressed its satisfaction at being a privileged partner of Bhutan in its socio-economic development, and reassured the Bhutanese Prime Minister of its commitment to capacity building in Bhutan.
5. India and Bhutan reaffirmed the trust and confidence between the two countries and their mutual security interests. They agreed to continue their close coordination and cooperation with each other on issues relating to their national interest.

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