Embassy of India Thimphu Bhutan : Press Release: Deputy of Chief of Mission, Shri Bishwadip Dey handed over cheques worth Nu. 1.9B to Gross National Happiness Commission's officiating Secretary, Thinley Namgyel in Thimphu ( 15 January 2016 )

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Press Release

Deputy of Chief of Mission, Shri Bishwadip Dey handed over cheques worth Nu. 1.9B to Gross National Happiness Commission's officiating Secretary, Thinley Namgyel in Thimphu

Mr. Bishwadip Dey, Deputy Chief of Mission, Embassy of India, Thimphu handed over cheques amounting to Nu. 1,997.737 million (Nu. 1245.972 million for GoI Project Tied Assistance projects and Nu. 751.765 million for Small Development Project), to Mr. Thinley Namgyel, Offtg. Secretary, GNHC on 14th January 2016.

This release of funds of worth Nu. 1997.737 million pertains to (1) Reconstruction of Wangdiphodrang Dzong (2) Upgradation of Simtokha-Wangdue (65 km) (3) Upgradation of Wangdue-Chuserboo (4) Up gradation of Trongsa-Chuserboo (5) Yadi-Lingmethang (6) Expansion of Paro Airport (Spillover) (7) Urban Infrastructure Development: Kanglung (8) Conservation of Phajoding Lhakhang (9) Development of Infrastructure and Teaching, College of Science & Technology (10) Development of Infrastructure and Teaching, Gaeddu College of Business Studies

(11) Development of Infrastructure and Teaching, Institute of Language and Cultural Studies, Taktse, Trongsa and (12) 1st Installment of 3rd Batch of SDP (30%).

Mr. Thinley Namgyel thanked GOI for the timely release of funds. He informed that the Bhutan- India Development cooperation projects were at advance stage of implementation and efforts were being made to complete most projects as schedule and requested if remaining release of funds could be processed at an early date.

Government of India has committed Nu. 45,000 million in the 11th FYP to Royal Government of Bhutan. The detail break-up of the commitment are: Nu. 28,000 million for Project Tied Assistance (PTA), Nu. 8,500 million for Program Grant (PG) and Nu. 8,500 million for Small Development Projects (SDP). As on date, Government of India has released Nu. 10,355.610 million for GoI PTA projects, Nu. 4,250 million for Program Grant and Nu. 2,971.114 million for SDP to RGoB.

In this financial year, GoI has released Nu. 9210.843 million. (Project Tied Assistance (PTA) Nu.

5475.339 million, Small Development Project (SDP) Nu. 2035.504 million and Programme Grant (PG) Nu. 1700 million). In total, GoI has released Nu. 17,576.724 million to RGoB which is 39.06

% of total committed allocation in the 11th Five Year Plan Period.

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Thimphu

14th January 2016