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News and Press Release from Ministry of Finance

Press Release (04-July-2025)

Finance Minister attends the Fourth International Conference on Financing for Development (FfD4), Seville, Spain (30th June to 3rd  July 2025)

Lyonpo Lekey Dorji, Hon’ble Finance Minister, led Bhutan’s delegation to the Fourth International Conference on Financing for Development (FfD4), Seville, Spain from 30th June to 3rd July 2025.

FfD4 aspires to build a renewed global financing framework that will unlock greater volumes of capital at a lower cost. In Sevilla, and through a renewed global financing framework, global leaders are taking action to deliver a SDG investment push and to reform the international financial architecture to enable the transformative change that the world urgently needs.

The conference is attended by the Secretary General of the United Nations, Presidents of World Bank group, Asian Development Bank, European Investment Bank and other multilateral development banks; MD of International Monetary Fund, DG of World Trade Organization, Presidents and Prime Ministers of many countries or Deputy Prime Ministers or Finance Ministers from countries all over the world.

At the Conference, Lyonpo delivered Bhutan’s national statement and welcomed the adoption of the outcome document and commended the co-facilitators for their inclusive and transparent approach and informed that it reflects the needs and aspirations of developing countries and will serve as a valuable guide in mobilizing financing for sustainable development amidst a period of profound transformation, escalating geopolitical uncertainty, and systemic risks. Lyonpo reassured Bhutan’s commitment to environmental conservation and called for predictable and accessible climate finance, scaling up ODA commitments and non-debt-creating instruments to support long-term resilience and fiscal stability. Lyonpo urged Multilateral Development Banks to ease lending terms, through longer tenors, lower interest rates, and local currency financing, and to strengthen debt relief and restructuring mechanisms. Lyonpo reassured the gathering of Bhutan’s commitment to work in partnership with the international community to strengthen the global financing architecture and realize the promise of the 2030 Agenda.

Lyonpo also held bilateral meeting with Senior Minister of State for Foreign Affairs and Home Affairs of the Republic of Singapore, Her Excellency Sim Ann and discussed the Avoidance of Double Taxation Agreement (DGA) negotiations between Bhutan and Singapore largely to push to conclude expeditiously. Her Excellency commended the noble initiative of His Majesty the King and extended her best wishes on the GMC project and expressed the Government of Singapore’s collaboration.  

Lyonpo also had an opportunity to meet with the Ministers from India, Norway, Sweden, Luxembourg, Maldives, and other countries, and important officials including the president of ADB, top UN and OECD officials and those of multilateral development banks. The conference provided platforms  to explore valuable financing leads and maintain relationships with officials in other countries.

Lyonpo also attended the following High level Side Events:

  1. “Public Finance for Gender Equality: A Collective Commitment” organized by UNDP, UN Women and Group of Countries. Lyonpo presented Bhutan’s achievement on public finance to advance gender equality, and its impact and how Bhutan is looking into the future.
  2. High-Level Side Events, Tax Inspectors Without Borders (TIWB): Lyonpo informed the event that as Bhutan transitions to a developing country, and as we strive to reduce our reliance on external financing post-LDC graduation, domestic resource mobilization is no longer a technical aspiration but a development necessity. Lyonpo informed The Tax Inspectors Without Borders (TIWB) program has been foundational to this journey, enhancing Bhutan’s tax capabilities and strategic fiscal independence.
  3. Ministerial Meeting of Landlocked Developing Countries: The Bhutanese delegation informed the meeting that The Ministerial Meetings of LLDCs provide essential platforms for landlocked developing countries to collaborate on strengthening regional cooperation, advocating for international support, developing joint infrastructure, enhancing trade, diversifying economies, and building resilience against external shocks

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Press Release on Implementation of Bill Discounting for Government Contracts (Works)(08-Jan-2025)

January 07, 2025 – The Ministry of Finance in collaboration with the Financial Institutions of Bhutan (FIAB), is pleased  to announce the launch  of the Bill Discounting facility. 

This financial facility aims to:

  1. Enhance cashflow and liquidity for contracting firms;
  2. Improve operational efficiency by reducing payment delays;
  3. Ensure smooth project execution.

Bill Discounting is a financial product/instrument wherein a contracting firm can obtain immediate cash from a bank or financial institution by discounting their bill receivables from the government agencies. This initiative aims to improve liquidity in the construction sector by providing timely access to funds and ensuring smooth business operations by addressing cash flow gaps by converting receivables into immediate cash. The Bill Discounting facility will operate through a collaborative process involving the contracting firm(Drawer), financial institutions, and procuring agencies. Under this arrangement, the financial institutions provide discounted payments upfront based on receivables verified and confirmed by the procuring agencies.

Initially, the facility will be piloted for the government works only, with plans for gradual expansion to include goods and services contracts.

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Press Release on SASEC (08-Nov-2024)

  1. The Ministry of Finance, Royal Government of Bhutan, in collaboration with the Asian Development Bank (ADB) under the South Asia Subregional Economic Cooperation (SASEC) Program hosted the 2024 Annual SASEC Meetings in Thimphu from November 4-8, 2024.
  • The Senior Officials Meeting was held on November 8, 2024 chaired by Aum Leki Wangmo, Secretary, Ministry of Finance and co-chaired by ADB Director General, Mr. Takeo Konishi.
  • The Senior Officials Meeting was preceded by 12th Customs Sub-group Meeting held in September 2024 and three SASEC Working Group Meetings for Trade Facilitation, Transport and Energy held from November 4-7, 2024.
  • The Senior Officials Meeting reinforced cooperation in trade, transport, and energy to foster economic growth, also addressing new institutional mechanisms on economic corridor development, digital payment mechanisms and Action Plans for SASEC Initiatives (APSI) for 2024-2026.
  • The South Asia Subregional Economic Cooperation (SASEC) program brings together Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, and Sri Lanka in a project-based partnership that aims to promote regional prosperity, improve economic opportunities, and build a better quality of life for the people of the subregion. SASEC countries share a common vision of boosting intra-regional trade and cooperation in South Asia, while also developing connectivity and trade with Southeast Asia.

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