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News and Press Release from Ministry of Finance

Press Release (22-May-2024)

PRESS RELEASE

Handing over of the first tranche of the Economic Stimulus Programme (ESP) Cheque of Nu.2.5 billion

  1. The ESP of Nu.15 billion was officially launched by the Hon’ble Prime Minister on May 18, 2024.
  • The ESP is supported by the Government of India and will address the economic challenges faced by the country in the aftermath of the pandemic. The ESP will revive key economic sectors, create jobs, and improve the overall economic health including liquidity and international reserves.
  • His Excellency Shri Sudhakar Dalela, Ambassador of India to Bhutan handed over a cheque of Nu.2.5 billion as the first tranche of the ESP to His Excellency Lyonpo Lekey Dorji, Finance Minister on May 22, 2024 at Tashichhodzong.
  • On behalf of the Royal Government of Bhutan, Hon’ble Finance Minister expressed his gratitude for the continued support of the Government and People of India for Bhutan’s socio-economic development.

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Press Release (21-May-2024)

Signing of Grant Agreements for the Project for Reconstruction of Bridges on Primary National Highway No.1 in Mongar District and Project for Human Resource Development Scholarship

JOINT PRESS RELEASE

May 20, 2024: The Department of Macro-fiscal & Development Finance (DMDF), Ministry of Finance and Japan International Cooperation Agency (JICA) Bhutan Office signed a Grant Agreement (G/A) for “the Project for Reconstruction of Bridges on Primary National Highway No.1 in Mongar District”. The project is for the reconstruction of Namling and Durdari Bridges in Mongar Dzongkhag with a grant amount of one billion six hundred and thirty-four million Japanese Yen (JPY1,634,000,000).

The objective of the project is to help improve logistics, social services such as medical care through replacement of the bridges along the National Highway No.1 in Mongar District, thereby contributing to sustainable socio-economic development in the area. Prior to this, 26 bridges were built though the Grant Aid Scheme covering the National Highways across Bhutan.

In addition, the Grant Agreement for the “Project for Human Resource Development Scholarship” was also signed together. The Grant will provide academic opportunities for young Government officials and others obtaining masters or doctors degree in higher educational institutions in Japan. Under the Japan Human Resource Development Scholarship, a total amount of two hundred and four million Japanese Yen (JPY 204,000,000) will be supported extending from April 1, 2024 till December 31, 2031

The G/As was signed between Mr. Tshering Dorji, Director of the DMDF and Mr. Tomoyuki Yamada, Chief Representative of the JICA Bhutan Office. The signing of G/As have been preceded by the Exchange of the Note (E/N) between the Royal Bhutanese Embassy and the Embassy of Japan, New Delhi, on the same day.

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Press Release (24-Feb-2024)

1st JPMC for Gyalsung Infrastructure Project

The 1st Joint Project Monitoring Committee (JPMC) meeting for the Gyalsung
Infrastructure Project was conducted on February 20, 2024 in Thimphu. The Bhutanese
delegation was led by Mr. Tshering Dorji, Director, Department of Macro-Fiscal and
Development Finance, Ministry of Finance and the Indian delegation was led by Shri. Amit
A. Shukla, Joint Secretary (North)-II, Ministry of External Affairs.
During the meeting, the status of the project was reviewed and valuable insights on the
project implementation were exchanged. The constructive dialogue fostered mutual
understanding and laid a solid foundation for further collaboration.

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News (01-Feb-2024)

January 28, 2024: The Ministry of Finance extended a warm welcome to Lyonpo Lekey Dorji who assumed the role of the Finance Minister, upon conferment of Dakyen by His Majesty The King on January 28, 2024.

After the conferment ceremony, Lyonpo Lekey Dorji was escorted to the Ministry of Finance for the formal joining ceremony followed by offer of Tashi Khadar.

The Ministry of Finance offers heartfelt congratulations and look forward to Lyonpo’s leadership towards sustainable economic growth for a developed Bhutan.

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