India has handed over the fifth installment of Rs 250 crore to Bhutan under the Economic Stimulus Programme (ESP). The Ambassador of India to Bhutan, Sandeep Arya, handed this installment to the Minister for Foreign Affairs and External Trade of the Royal Government of Bhutan (RGoB), Lyonpo D.N. Dhungyel, a statement by the Embassy of India in Bhutan said.
The government of India has committed Rs 1,500 crore to RGoB, towards the ESP under the 13th five-year plan (2024-29). So far, India has released Rs 1,250 crore to the RGoB.
At the handover ceremony, the Foreign Minister conveyed gratitude to the Government of India for its support to the ESP, noting its positive impact on farmers, students and youth, small and medium enterprises, start-ups, creative industry, hospitality and tourism sectors.
He also thanked the Government of India for concurring with RGoB's proposal to allocate Rs 250 crore for the 'National Fuel Price Smoothening Framework' which has served to mitigate the impact of rise in fuel prices and contributed to the economy in Bhutan.
During the meeting, the Ambassador also handed over cheques amounting to over Rs 45 crore for the projects, as per the statement.
This included over Rs 33 crore allocated towards improvement of quality of school education in Bhutan, over Rs 6 crore for digital skilling programme and nearly Rs 6 crore for the recruitment of STEM teachers serving in Bhutanese schools.
About Rs 3,400 crore have been released by India before completion of the first two years of the plan period out of India’s total committed support of Rs 10,000 crore, covering project assistance, high impact community development projects, Economic Stimulus Programme and budgetary support to Bhutan. |
