Bhutan’s Prime Minister Tshering Tobgay visited the Asian Development Bank (ADB) on 5 September 2014 to thank the organization for contributing to Bhutan’s development throughout its 30-year partnership. He spoke to the Board of Directors, ADB staff, and the Bhutanese community as part of ADB’s Eminent Speaker Forum, “Bhutan’s Economic Vision: Prosperity for All” and launched the book, “20th by 2020: Bhutan Drive for Improved Governance”.

ADB recently approved a loan and grant package worth $50.35 million in support of the South Asian Subregional Economic Cooperation (SASEC) Road Connectivity Project. This project will promote regional connectivity within the SASEC countries through investment in road construction, land ports, and customs stations for facilitating cross-border trade. One of the major components of the project is the construction of a 68.30 kilometer section of the southern East-West Highway between Nganglam and Deothang. It further includes the construction of a mini dry port in Phuentsholing, and a land customs station at Alay.

Mr. Tobgay said, “ADB’s support over these years is very much appreciated, including its work to develop eco-friendly transport”. ADB has also financed five rural energy projects that collectively brought electricity to 43% of rural households in Bhutan, contributing to the Government’s 100% electrification target. The Prime Minister also noted that continued ADB assistance is vital to achieve Bhutan’s 11th five-year plan that targets self-reliance for national development needs, including carbon-neutral growth by 2020. Despite Bhutan having a GDP of only $1.7 billion, it aims to create prosperity for all while incorporating the ideals of Gross National Happiness.

Related Links:

ADB Press Release: Bhutan Prime Minister Visits ADB to Celebrate Three-Decade Partnership
Bloomberg Businessweek
Kuensel Online