GOI RELEASES NU 40BN FOR BHUTAN’S 11TH FYP
The Government of India (GoI) has released over Nu 40bn so far for the 11th Five Year Plan. This roughly comes to over 80% of the total GoI commitment for the 11th FYP. The Indian Embassy on Thursday handed over a cheque amounting to Nu 132mn to the government. The funds are expected to be used to expand technical training institute in Dekiling, Sarpang; and improve urban infrastructure development in Bumthang both under the Project Tied Assistance.
Last week, the GoI handed over cheques worth Nu 455mn to the Gross National Happiness Commission. The fund is a Programme Grant for the period of October-December 2017 and also for construction of Anim Shedra in Monggar, a project tied assistance project.
The Indian Government has committed a total of Nu 50bn as plan assistance for the 11th FYP from 2013 until 2018. Over half of this commitment is for the Project Tied Assistance (Nu 28bn) while the Small Development Projects and Program Grant will get Nu 8.5bn each. Additionally, Nu 4.4bn was committed for Economic Stimulus Plan.