India, Bhutan ink Rs.4k cr credit pact
New Delhi, July 31 -- The Exim Bank of India and Bhutan's finance ministry signed an agreement for a concessional line of credit worth Rs.4,000 crore on Thursday as foreign secretary Vikram Misri held talks with his Bhutanese counterpart Pema Lektup Dorji in Thimphu on development cooperation between the two sides. Misri travelled to Bhutan following a visit to China, and he and Dorji co-chaired the India-Bhutan development cooperation talks focused on the Himalayan nation's 13th five-year plan.
The meeting reviewed the progress in implementing India-supported projects in different fields of development, the Indian embassy in Thimphu said on social media. Bhutan appreciated India's significant support and contribution to the country's development.
An agreement for the concessional line of credit of Rs.4,000 crore was signed by the Exim Bank of India and Bhutan's finance ministry, and a memorandum of understanding for cooperation on health education and research was inked by the All India Institute of Medical Sciences (AIIMS) in New Delhi and the Khesar Gyalpo University of Medical Sciences in Thimpu.
Misri and Dorji virtually inaugurated the Thimphu Ecological Park and Olakha Park constructed under an India-backed project for enhancing green infrastructure and open spaces in Thimphu, the embassy said. Forty-five electric vehicles were also handed over by India to Bhutan.
India provides most of the funding for Bhutan's five-year plans and has committed Rs.10,000 crore for the 13th five-year plan covering 2024-2029. The Indian government has also provided Rs.750 crore for Bhutan's Economic Stimulus Programme and Rs.100 crore as a programme grant....
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