The global financial crisis has not affected the donor countries which assist Bhutan. The Finance Ministry says no donor country has shown indication of reducing their grant commitments. However, the Finance Minister said Bhutan may face difficulties seeking new partners for new projects.
So far no donor country or agency has shown indication of reducing their grant commitments. This, the Finance Minister Lyonpo Wangdi Norbu said is because most of the programmes with the leading lending and grant agencies and countries are ongoing. Lyonpo Wangdi Norbu also said that this could also be because Bhutan is ranked among the top performers by most of the partners.
However, the Finance Minister said Bhutan may face difficulties in finding new grants for new projects.
Donor counties still continue to support Bhutan. This, the Finance Ministry said is evident from the ongoing grants Bhutan’s donors are making.
Today, one of Bhutan’s major lending institution- the World Bank granted a little over US$ 20 million- US$ 9 million as grant and US$ 11 million as credit.
The Ministry of Finance says the money will be used to promote good governance, and public financial management, foster dynamic labour markets and generate employment opportunities in the country. It will also be used to expand access to infrastructure in an environmentally sustainable manner.
An agreement to this effect was signed between the Finance Minister Lyonpo Wangdi Norbu and the World Bank Country Director for South Asia Nicholas Kraft.
World Bank commits 20 million to Bhutan
