SAARC Diary: India Release Funds to Bhutan for Development Projects
NEW DELHI, May 1: India on Saturday released Nu./Rs 22.86 billion to the Royal Government of Bhutan for various development projects in Bhutan. These projects cover a wide range of fields, including education, culture, industrial growth, highways and infrastructure development.
According to the Indian Embassy in Thimphu, additionally the Indian Government on Friday provided Druk Green Power Corporation, Bhutan with a grant of Nu./Rs. 164 million for DGPC’s share of the Kholongchhu Hydroelectric Power Project Joint Venture. It is the first joint venture project to be implemented under the Inter-governmental Agreement on Development of Joint Venture Hydropower Projects, signed in April 2014, and will be the seventh hydropower project to be developed in Bhutan with financial support from India under a debt-equity ratio of 70:30, with the project expected to be completed by March, 2026.
The Government of India has pledged a financial support of Nu./Rs. 45 billion for Bhutan’s 12th Five Year Plan, which includes Nu./Rs. 28 billion in PTA, Nu./Rs. 8.5 billion each in assistance for High Impact Community Development Projects, and in Program Grant Assistance (PGA). India has released Nu./Rs. 22.86 billion since the start of the 12th plan.
In order to protect the local biodiversity of Wangdue Phodrang, the Punatsangchhu – 2 Hydroelectricity Project Authority (PHPA – II) on Friday handed over a state-of-the-art Mahseer Conservation and Fish Monitoring Centre to the Royal Government of Bhutan’s Department of Livestock, Ministry of Agriculture and Forests. This centre, located in Wangdue Phodrang’s Athang Gewog, will aid in the breeding and seed development of Golden Mahseer and other regional fish varieties. PHPA – II built the centre for a total of Nu./Rs. 151.53 million.
(Venkatesh Iyer)
