India grants Bhutan, Maldives Rs.13.7 bn additional aid

December 19th, 2008 - 8:28 pm ICT by IANS  

Manmohan SinghNew Delhi, Dec 19 (IANS) India has granted Bhutan and the Maldives Rs.1,370 crore (Rs.13.7 billion) as additional aid, it was announced here Friday.Of this, Rs.900 crore (Rs.9 billion) will go to Bhutan in two tranches, while Rs.470 crore (Rs.4.7 billion) has been earmarked for the Maldives, Home Minister P. Chidambaram told reporters after a cabinet meeting presided over by Prime Minister Manmohan Singh.

“Bhutan will get an assistance package of Rs.600 crore (Rs.6 billion) and a standby facility of Rs.300 crore (Rs.3 billion). This is over and above the Rs.4,587 crore (Rs.45.87 billion) already committed to Bhutan,” the minister said.

“The Rs.600 crore (Rs.6 billion) is exclusively for the government of India’s project tied assistance to Bhutan,” Chidambaram added.

The cabinet also decided to give a standby facility of Rs.470 crore (Rs.4.7 billion) to the Maldives.

“Of this, half will be for the import of essential items and the remaining half will be as budgetary support as the Maldives is facing difficulties,” Chidambaram said.

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