Thimphu: India and Bhutan on Thursday agreed to speed up the implementation of the mutually agreed projects in this country as the two sides met here to review the Indian assistance of Rs 45 billion for Bhutan's 11th Five Year Plan. The third round of the Bhutan-India Development Cooperation Talks were held here during which the two sides finalised a total of 84 PTA projects to be implemented under the 11th Five Year Plan, which includes the 48 projects which were approved during the current round of talks.
The two sides reviewed India's assistance of Rs 45 billion to the 11th Plan, which includes Rs 8.5 billion for Programme Grant, Rs 8.5 billion for Small Development Projects (SDP) and Rs 28 billion for Project Tied Assistance (PTA). Noting that the first year of the Plan has already passed, the two sides agreed to speed up the implementation of the mutually agreed projects.
In this regard, the Bhutanese side assured to exert every effort to ensure that all projects adhere to their projected timelines and the Indian side assured timely release of funds. The talks were held in a very warm, friendly and constructive atmosphere reflecting the spirit of mutual trust, cooperation and understanding that underpins the India-Bhutan bilateral partnership, a joint statement issued at the end of the talks said.
In the talks, the Indian delegation was led by Secretary, Economic Relations and Development Partnership Administration, Sujata Mehta and the Bhutanese delegation was headed by Foreign Secretary Yeshey Dorji. The Plan Talks are a regular feature of Bhutan-India Development Cooperation.
India is the oldest and a privileged development partner of Bhutan in its socio-economic development ever since the first Five Year Plan in 1961.
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