India announces Rs 4,000 cr concessional credit line to fund energy projects in Bhutan

India and Bhutan on Tuesday inaugurated a 1020MW hydropower project built with Indian assistance as Prime Minister Narendra Modi said progress and prosperity of the two countries is closely linked and that there will be greater focus on boosting connectivity reported news agency PTIPM Modi and King Jigme Khesar Namgyel Wangchuck inaugurated the PunatsanchchhuII project following their wideranging talks Electricity generated from the project will be supplied to both countriesThe Indian side also announced a concessional credit line of Rs 4000 crore to fund energy projects in BhutanEnergy cooperation remains a key pillar of the IndiaBhutan partnership Today we inaugurated the PunatsangchhuII Hydropower Project This is an enduring symbol of friendship between our countries PM Modi said on social mediaThe two leaders exchanged views to further enhance and strengthen bilateral ties and held discussions on regional and global issues of mutual interestKing Jigme Khesar conveyed condolences on the loss of lives in the Delhi blast and his appreciation for Indias support for Bhutans socioeconomic developmentThe two leaders also witnessed the finalisation of three pacts that will provide for cooperation in renewable energy healthcare and medicine and mental health servicesEarlier addressing an event to mark the 70th birth anniversary of Bhutans former king Jigme Singye Wangchuck PM Modi underlined the importance of connectivity and referred to New Delhis decision to link Gelephu and Samtse in Bhutan to Indias rail network reported PTIConnectivity creates opportunity And opportunity creates prosperity With this goal in mind a decision has been taken to connect Gelephu and Samtse to Indias extensive rail network he saidOnce completed this project will provide Bhutanese industries and farmers with easier access to Indias large markets he saidAlong with rail and road connectivity we are also rapidly progressing on border infrastructure PM Modi saidIndia is also extending full support to Bhutans Gelephu Mindfulness City PM Modi said announcing that New Delhi will establish an immigration checkpoint near GelephuThe progress and prosperity of India and Bhutan are closely linked In this spirit last year the government of India announced a contribution of Rs 10000 crore to support Bhutans FiveYear Plan PM Modi said reported PTIThese funds are being utilized across all sectors from roads to agriculture from finance to healthcare helping improve the ease of living for the people of Bhutan he saidThe prime minister noted that India has taken several measures to ensure a steady supply of essential items to the people of Bhutan and that it is expanding the Unified Payment Interface UPI facility in that countryIndia and Bhutan are connected not just by borders but also by cultures Our relationship is one of values emotions peace and progress he saidThe prime minister also lauded former King Jigme Singye and said his concept of Gross National Happiness became an important measure of development across the worldPM Modi said the former King played a decisive role in establishing democratic systems in Bhutan and establishing peace in the border areasThe idea of Gross National Happiness that you introduced has today become an important measure of development across the world You have shown that nationbuilding is not only about GDP but also about the wellbeing of humanity he said reported PTIWith inputs from PTI