India, Bhutan hold development cooperation talks in New Delhi

New Delhi [India], June 30 (ANI): India and Bhutan held the Development Cooperation Talks in New Delhi on Monday. Secretary (West) Tanmaya Lal led the Indian delegation, and Foreign Secretary Aum Pema Choden led the Bhutanese delegation.
"India and Bhutan share an exemplary partnership characterised by trust, goodwill, mutual understanding at all levels, and strong bonds of friendship and close people-to-people ties," the Ministry of External Affairs said in a statement.
The Development Cooperation Talks are an important bilateral mechanism for reviewing the full spectrum of India-Bhutan's development partnership.
According to MEA, the Government of India (GoI) has committed support of INR/Nu. 10,000 Crore (100 billion) for Bhutan's 13th Five-Year Plan period (2024-2029), which would cover Project Tied Assistance (PTA) projects, High Impact Community Development Projects (HICDP), support for Economic Stimulus Programme (ESP) and budgetary support in the form of Programme Grant.
During the Talks, the two sides discussed various components of the support and reviewed the progress in the implementation of the projects approved in previous rounds.
A total of 61 PTA projects amounting to INR/Nu 4958 crores (49.58 billion) and 283 HICDPs amounting to INR/Nu 417 crores (4.17 billion), covering a wide range of sectors, are in various stages of implementation, as per MEA.
"Both sides agreed to make suitable revisions to the allocations for some of the PTA projects, taking into account the evolving requirements. GoI has also released INR/Nu 750 crores (7.50 billion) towards ESP and Rs. 100 crores (1 billion) as Programme Grant. The meeting reviewed the progress in the utilisation of these funds," MEA added.
As per the MEA, the Bhutanese side presented the second tranche of PTA project proposals to be implemented during the 13th FYP period. A total of 10 projects amounting to INR/Nu. 1113 Crores (11.13 billion), covering sectors such as healthcare, connectivity, urban infrastructure and livestock, were approved by the two sides.
Further the ministry higlighted that the Indian side "conveyed that it will continue to work together with the Royal Government of Bhutan on its development agenda, in line with the shared vision of King of Bhutan Druk Gyalpo and Prime Minister of India Narendra Modi, and based on the priorities of the Royal Government and the people of Bhutan."
The ministry noted that the talks were held in a "friendly and cordial atmosphere in keeping with the well-established tradition of regular exchanges and unique bonds of friendship and cooperation between the two countries. "
"The two sides agreed to hold the next Development Cooperation Talks in Thimphu at a mutually convenient date," it added. (ANI)