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India announces Rs 4,500 crore assistance to Bhutan
Prime Minister Narendra Modi has announced a Rs 4,500 crore financial assistance to Bhutan for its 12th five-year plan after holding wide-ranging talks with his Bhutanese counterpart Dr. Lotay Tshering.
The new five-year plan of Bhutan began in 2018 and will continue till 2022.
According to the PM Modi, hydropower cooperation with Bhutan is a key aspect of bilateral ties and that work on the Mangdechhu project will soon be completed.
Dr. Tshering had arrived in New Delhi on December 27, 2018 on his first foreign visit after taking charge as Prime Minister of the Bhutan in November 2018 following his party’s victory in the general elections.
His visit took place during the Golden Jubilee year of the establishment of formal diplomatic relations between the two countries.