India will give a transitional Trade Support Facility of 57 million dollar to Bhutan |
In the first foreign State visit to India the newly elected Bhutanese PM Dr. Lotay Tshering and Prime Minister Narendra Modi in a joint statement in New Delhi, reaffirmed their commitment to further strengthen cooperation in all areas of mutual interest. Mr Modi and Dr. Tshering also discussed Bhutan`s priorities in the health sector. Prime Minister Modi said that in line with Government of India`s `Neighbourhood First` policy, India is firmly committed to partner with Bhutan in its quest for development and economic prosperity. Recognizing the importance of further expanding economic co-operation, the two Prime Ministers reviewed the implementation of ongoing bilateral hydro-power projects in Bhutan, and agreed to expedite their implementation. They reiterated their commitment to jointly develop 10,000 MWs of hydropower generating capacity in Bhutan and in this regard discussed the Sankosh Hydropower Project. Prime Minister Modi had announced a 645 MILLION USD financial assistance to Bhutan for its 12th five-year plan.
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