Cooperation: The Government of India (GoI) released Nu 500.467 million to the Royal Government under the Project Tied Assistance project, according to an Indian embassy press release.
The released fund is for blacktopping of gewog connectivity roads.
Indian embassy’s head of chancery, Neetu M Bhagotia handed over the cheque to GNHC secretary Thinley Namgyel yesterday.
The secretary thanked GoI for the timely release of funds. He informed that the Bhutan-India development cooperation projects were at an advanced stage of implementation and efforts were being made to complete most projects as scheduled. He requested if remaining release of funds could be processed at an early date.
GoI has committed Nu 45 billion (B) in the 11th Plan to the Royal Government of Bhutan. The detailed break-up of the commitment is: Nu 28B million for Project Tied Assistance (PTA), Nu 8.5B for Programme Grant (PG) and Nu 8.5B for Small Development Projects (SDP).
As of date, GoI has released Nu 15.2B for GoI PTA projects, Nu 5.5B for PG and Nu 5.09B for SDP.
In total, GoI has released Nu 25.8B to the Royal Government which is 57.4 percent of the total committed allocation for the 11th Plan.