PM Narendra Modi Announces Rs 4,500 Crore Assistance To Bhutan

Mumbai: Prime Minister Narendra Modi on Friday announced financial assistance of Rs 4,500 crore to Bhutan for its 12th Five Year Plan after extensive talks with his Bhutan counterpart Lotay Tshering.

A day before Lotay arrived in India, it was his first foreign visit after taking charge as PM of the Himalayan nation last month following his party’s victory in the general elections.

“Hydropower cooperation with Bhutan is a key aspect of bilateral ties and that work on the Mangdechhu project will soon be completed” Modi stated in a statement.

Modi said he has assured the Bhutanese prime minister that India, as a trusted friend, will continue to play an important role in Bhutan’s development.  India will contribute Rs 4,500 crore in Bhutan’s 12th five-year plan, Modi added.

Prime Minister was the first head of the state who congratulated him on his election victory. He thanked India for continued support for the developmental needs of our country.

Bhutan’s new five-year plan began this year and will continue till 2022. Before this, Tasharif was officially welcomed at the Rashtrapati Bhavan.

External Affairs Minister Sushma Swaraj Prime Minister. Foreign Ministry spokesman Ravish Kumar said that Swaraj congratulated Bhutan for assuming the responsibility of the high office of Prime Minister of Bhutan and the two leaders “exchanged views” on important aspects of bilateral relations.

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