India, Bhutan Welcome Rs 4,000 Cr Concessional LoC For Energy Projects

New Delhi, Sep 18 (KNN) India and Bhutan have welcomed the signing of a concessional Line of Credit (LoC) of Rs 4,000 crore for energy projects in Bhutan, as the two countries reviewed progress in bilateral energy and development cooperation.

The agreement was welcomed during External Affairs Minister S Jaishankar’s official visit to Bhutan from September 16 to 18 at the invitation of Bhutanese Foreign Affairs and External Trade Minister DN Dhungyel.

Focus On Hydropower Cooperation

The two ministers expressed satisfaction with the progress of the India-Bhutan energy partnership and reviewed recent developments in hydropower cooperation, reported ANI.

These included the inauguration of the 1,020 MW Punatsangchhu-II Hydroelectric Project and signing of its Tariff Protocol, as well as the resumption of dam construction at the 1,200 MW Punatsangchhu-I Hydroelectric Project.

The two sides also welcomed the growing participation of Indian companies in Bhutanese hydropower projects.

Development Projects, Connectivity

During the visit, the ministers jointly inaugurated or launched several development projects, including the 65-bed Gyaltsuen Jetsun Pema Mother and Child Hospital in Mongar, the Jaganathan Bridge on the Samdrup Jongkhar-Trashigang Highway and the 500 kW Lunana Hydropower Project.

India also handed over 54 electric vehicles to the Royal Government of Bhutan, while 43 Jersey cows were transferred to the National Cattle Breeding Centre in Bumthang.

The two sides discussed the Gelephu Mindfulness City, trade and transit, cross-border connectivity, digital payments and space cooperation. India reaffirmed its commitment to establish an Immigration Check Post at Hatisar in Assam to facilitate the movement of investors and visitors to Gelephu.

Progress was also noted on the Gelephu-Kokrajhar and Samtse-Banarhat cross-border rail links.

Digital Payments, Education Cooperation

The ministers welcomed the operationalisation of a UPI-based facility enabling Bhutanese nationals to make digital payments in India through Bhutanese mobile applications.

The two sides also reviewed education cooperation, including the increase in Bhutanese students eligible for Indian Council for Cultural Relations scholarships from 30 to 60 and seats under the Nalanda University Scholarship Scheme from 30 to 55.

India reaffirmed support for Bhutan’s developmental priorities under its 13th Five Year Plan (2024-29), while Bhutan appreciated India’s support for the plan.

India thanked Bhutan for supporting its candidature for a non-permanent seat on the UN Security Council for 2028-29, while India welcomed Bhutan’s ratification of the Framework Agreement of the International Big Cat Alliance.

(KNN Bureau)