India announces Rs 4,500 crore help to Bhutan

New Delhi, Dec 28 Prime Minister Narendra Modi Friday announced a Rs 4,500 crore financial assistance to Bhutan for its 12th five-year plan in the wake of holding wide-ranging converses with his Bhutanese partner Lotay Tshering.

In his media statement, Modi said hydro power cooperation with Bhutan is a key part of bilateral ties and that work on the Mangdechhu task will before long be finished.

Tshering arrived here on Thursday on his first foreign visit in the wake of assuming responsibility as PM of the Himalayan country a month ago after his gathering's triumph in the general elections.

Modi said he has assured the Bhutanese PM that India, as a a trusted friend, will continue to play an important role in Bhutan's development.

India will contribute Rs 4,500 crore in Bhutan's 12th five-year plan, Modi said.

Tshering on his part noticed that Prime Minister Modi was the first head of state to congratulate him on his electoral victory. He also thanked India for its continued support to his country's developmental needs.

The new five-year plan of Bhutan started for this year and will proceed till 2022.

Prior in the day, Tshering was accorded a formal welcome at the Rashtrapati Bhavan.

External Affairs Minister Sushma Swaraj also called on the Bhutanese premier this morning.

Swaraj congratulated Tshering on the suspicion of the high office of Bhutan's prime minister and the two leaders had a "warm trade of perspectives" on essential parts of the bilateral relationship, Ministry of External Affairs Spokesperson Raveesh Kumar said.

Tshering also laid a wreath at Mahatma Gandhi's 'samadhi' at Rajghat.