Staff reporter

The Government of India has disbursed a second tranche of Nu or INR 5 billion to support the infrastructure development for the Gyalsung Project.

The initial tranche of Nu or INR 5 billion was released on January 28 of this year.

According to a press release from the Embassy of India in Thimphu, Sudhakar Dalela, India’s Ambassador to Bhutan, officially handed over the second tranche of Nu or INR 5 billion for infrastructure development linked to the Gyalsung Project to DN Dhungyel, Minister of Foreign Affairs and External Trade.

The press release staed that with the disbursement of the second tranche, the Government of India has now provided a total of Nu or INR 10 billion to the Royal Government of Bhutan under the Memorandum of Understanding (MoU) on concessionary financing arrangements for the Gyalsung Infrastructure Project.

The MoU between the two governments was signed in January of this year to establish a framework for the disbursement of Nu or INR 15 billion as concessionary financing to the Royal Government of Bhutan.

This financing is designated for infrastructure development associated with the Gyalsung academies.

This financing arrangement is an addition to the Government of India’s Plan Assistance provided to the Royal Government of Bhutan. 

The MoU builds upon previous collaboration between the Government of India and Gyalsung. In February 2023, the Government of India extended a grant assistance of Nu or INR 10 billion for the De-Suung for Gyalsung programme.

The press release also stated that India is privileged to partner with Bhutan on a landmark initiative of His Majesty the King of Bhutan, which puts the youth and skilling at the heart of nation-building endeavours.