Exchange of Notes concerning Yen Loan ‘Development Policy Loan for Economic Recovery and Resilience’
2023/5/31
On May 30, Mr. SUZUKI Hiroshi, Ambassador of Japan to Bhutan, and His Excellency Mr. Vetsop Namgyel, Ambassador of Bhutan to Japan, have exchanged notes in New Delhi concerning Yen Loan for ‘Development Policy Loan for Economic Recovery and Resilience (total provision of the loan is up to 6.55 billion yen)’.
Details of the project are as follows:
“Development Policy Loan for Economic Recovery and Resilience”
Maximum Amount: 6.55 billion yen
This project provides financial support to the Royal Government of Bhutan, which was severely affected by COVID-19, in order to (1) strengthen policies in financial sector that further contributes to private sector-led economic growth, (2) promote policies for green growth focusing on renewable natural resources, and (3) promote policies to create an independent and sustainable country with a good balance between rural and urban areas.
This project will be conducted by co-financing with the policy loan, 'Green and Resilient Growth DPC' by the World Bank. It is expected that the synergistic effects of support from these other organizations and the existing support from Japanese government to Bhutan, including technical cooperation, will contribute to the formulation of development policy in Bhutan.
Details of the project are as follows:
“Development Policy Loan for Economic Recovery and Resilience”
Maximum Amount: 6.55 billion yen
This project provides financial support to the Royal Government of Bhutan, which was severely affected by COVID-19, in order to (1) strengthen policies in financial sector that further contributes to private sector-led economic growth, (2) promote policies for green growth focusing on renewable natural resources, and (3) promote policies to create an independent and sustainable country with a good balance between rural and urban areas.
This project will be conducted by co-financing with the policy loan, 'Green and Resilient Growth DPC' by the World Bank. It is expected that the synergistic effects of support from these other organizations and the existing support from Japanese government to Bhutan, including technical cooperation, will contribute to the formulation of development policy in Bhutan.