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India releases 2nd tranche of INR 5 billion to Bhutan
The Business Guardian
|March 28, 2024
India has recently disbursed the second tranche of Rs 500 crore to Bhutan, marking a significant step forward in their collaborative efforts towards the development of infrastructure linked to the GyalSung Project.
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This financial injection follows closely on the heels of Prime Minister Narendra Modi’s constructive visit to Bhutan, which concluded on March 23. During his two-day stay, Prime Minister Modi reaffirmed New Delhi’s unwavering commitment to supporting Bhutan’s developmental aspirations. As a testament to this commitment, India pledged to provide Rs 10,000 crore to Bhutan over the course of the next five years.
The responsibility of delivering the second tranche fell upon Sudhakar Dalela, India’s Ambassador to Bhutan, who ceremoniously handed over the funds to Lyonpo D N Dhungyel, Bhutan’s Minister of Foreign Affairs and External Trade. This disbursement follows the initial release of Rs 500 crore on January 28 of the same year, signifying a steady and substantial investment from India into Bhutan’s developmental agenda.
This story is from the March 28, 2024 edition of The Business Guardian.
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