India has released the second tranche of Rs500 crore to Bhutan for the development of infrastructure related to the GyalSung Project.
Banking & Finance
India has released the second tranche of Rs500 crore to Bhutan for the development of infrastructure related to the GyalSung Project. The first tranche of Rs500 crore was released on January 28 earlier this year. With this, the Government of India has released a total of Rs1,000 crore to the Government of Bhutan under the Memorandum of Understanding on the concessionary financing arrangements for the GyalSung Infrastructure Project. The MoU, signed in January 2024, provides a framework for the disbursal of Rs1,500 crore as concessionary financing to the Government of Bhutan for infrastructure development related to the GyalSung academies. This financing arrangement is in addition to the Government of India’s Plan Assistance to the Government of Bhutan.
Capital- Thimphu
Currencies- Bhutanese Ngultrum, Indian Rupee
____________________________
