External affairs minister S Jaishankar is visiting Bhutan during September 16-17 for talks with his counterpart DN Dhungyel to review bilateral ties.
Jaishankar’s visit follows a trip to Bhutan by foreign secretary Vikram Misri in July, when the Exim Bank of India and Bhutan’s finance ministry signed an agreement for a concessional line of credit worth ₹ 4,000 crore. Last year, India announced it will build the first two cross-border railway links with Bhutan at a cost of ₹ 4,033 crore, with the project being seen as part of New Delhi’s efforts to bolster regional connectivity to drive economic integration and trade.
The visit is in keeping with the tradition of regular high-level exchanges between India and Bhutan, and to further strengthen the close ties of friendship and cooperation between the two countries, the ministry said. Besides holding talks with Bhutan’s foreign minister, Jaishankar will also meet Prime Minister Tshering Tobgay and King Jigme Khesar Namgyel Wangchuck, the external affairs ministry said on Wednesday.
India provides most of the funding for Bhutan’s five-year plans and has committed ₹ 10,000 crore for the 13th five-year plan covering 2024-2029. The Indian government has also provided ₹ 750 crore for Bhutan’s Economic Stimulus Programme and ₹ 100 crore as a programme grant.
