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Prime Minister Narendra Modi announced financial assistance of ₹4,500 crore to Bhutan


New Delhi. Prime Minister Narendra Modi on Friday announced a financial assistance of ₹4,500 crore to Bhutan for its 12th five-year Plan, after holding wide-ranging talks with his Bhutanese counterpart Lotay Tshering.

In a media statement, Mr. Modi said hydro power cooperation with Bhutan was a key aspect of the bilateral ties, and that work on the Mangdechhu project would soon be completed.

Mr. Tshering arrived in New Delhi on Thursday on his first foreign visit after taking charge as Prime Minister of the Himalayan nation last month following his party’s victory in the general election.

Mr. Modi said he assured his Bhutanese Prime Minister counterpart that India, as a trusted friend, would continue to play an important role in Bhutan’s development.

Mr. Tshering, on his part, noted that Mr. Modi was the first head of state to congratulate him on his electoral victory. He also thanked India for its continued support to his country’s developmental needs.

The new five-year Plan of Bhutan began this year and will continue till 2022.

Earlier in the day, Mr. Tshering was accorded a ceremonial welcome at the Rashtrapati Bhavan.

External Affairs Minister Sushma Swaraj also called on the Bhutanese Premier in the morning.

Ms. Swaraj congratulated Mr. Tshering on the becoming the Prime Minister, and the two leaders had a “warm exchange of views” on important aspects of the bilateral relationship, Ministry of External Affairs Spokesperson Raveesh Kumar said.

Mr. Tshering also laid a wreath at Mahatma Gandhi’s ‘samadhi’ at Rajghat.

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