India handed over a cheque of 2.5 billion Bhutanese Ngultrum (Rs 250 crore) as the third tranche of its support of 15 billion Ngultrum (Rs 1500 crore) towards the Bhutan’s Economic Stimulus Programme (ESP)
In yet another significant gesture highlighting the strong bonds of friendship and close people-to-people contacts, India on Wednesday handed over a cheque of 2.5 billion Bhutanese Ngultrum (Rs 250 crore) as the third tranche of Government of India’s support of 15 billion Ngultrum (Rs 1500 crore) towards the Economic Stimulus Programme (ESP) launched by the Royal Government of Bhutan, last year.
While handing over the cheque to Bhutanese Finance Minister Lyonpo Lekey Dorji in Thimphu, Ambassador of India to Bhutan Sudhakar Dalela reiterated India’s commitment to partner with Bhutan in the implementation of the 13th Five-Year Plan of Bhutan.
“India-Bhutan development partnership! Reiterated Government of India’s unwavering commitment to partnering with the Royal Government of Bhutan in implementation of the 13th Five Year Plan in accordance with national development priorities of Bhutan,” the Embassy of India in Thimphu stated.
Dorji expressed deep gratitude to the Government of India for its steadfast support and acknowledged that India’s development support has been instrumental in Bhutan’s economic recovery efforts. He emphasised that the ESP support has played a crucial role in stimulating economic activity and creating jobs.
The ESP was launched by the Bhutanese government last year with the objective to reinvigorate the domestic economy.
Earlier in two tranches, India had released Nu 5 billion (Rs 500 crore) to the government of Bhutan.
India’s developmental partnership with Bhutan is an important pillar of bilateral relations. In July 2024, during Foreign Secretary Vikram Misri’s visit to Thimphu, India had agreed to positively consider frontloading the full amount of Nu 15 billion (Rs 1500 crore) to Bhutan as part of the ESP in the next 18 months subject to progress on implementation of activities proposed to be conducted under the ESP.
During his visit to Bhutan in March 2024, Prime Minister Narendra Modi had announced India’s development support of Nu 100 billion (Rs 10,000 crore) for Bhutan’s 13th Five Year Plan period. The Royal Government of Bhutan continues to convey deep appreciation for the “invaluable support” that India has been providing for the country’s socio-economic development.
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