June 20, 2024
1 min read

Bhutan Gets $40M Loan from ADB

The concessional loan aims to support policy reforms in expanding domestic resource mobilisation, promoting private sector development…reports Asian Lite news

The Asian Development Bank (ADB) on Thursday said it has approved a policy-based loan of 40 million US dollars to help Bhutan further strengthen its public financial management and green growth.

The concessional loan aims to support policy reforms in expanding domestic resource mobilisation, promoting private sector development, and introducing climate change adaptation and mitigation measures, Xinhua news agency reported.

Under the program, domestic resource mobilisation is expected to be strengthened by improving customs and property tax administration, implementing a medium-term revenue strategy, and enhancing the governance and management of state-owned enterprises.

“This will significantly reduce the gap between current expenditures and tax revenues. The rollout of an integrated financial management information system will improve public financial management,” the ADB said.

It added the program will help promote private sector development and streamline, modernise and digitise investment, business processes and trade services to enhance the ease of doing business in the country.

ALSO READ: Jaishankar calls on PMs of Mauritius, Bhutan, Nepal

Previous Story

Indian Embassy Kicks Off Yoga Day with DC Session

Next Story

Lanka President Inaugurates Indian Projects Amid Jaishankar’s Visit

Latest from -Top News

Pakistan FM Due in Bangladesh

During his visit Dar will hold discussions with the Foreign Affairs Advisor Towhid Hossain and also call on Muhammad Yunus…reports Asian Lite News Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar

Balochistan: Where the State Makes People Disappear

The victims include students, journalists, and peaceful protesters, many of whom were abducted from cities such as Karachi and Islamabad….reports Asian Lite News A human rights organisation on Monday revealed that 785

Monsoon Havoc in Pakistan

Since June 26, torrential rains have killed at least 299 people—including 140 children—and injured 715 in Pakistan…reports Asian Lite News Since June 26, torrential monsoon rains have devastated Pakistan, killing at least

Bangladesh’s Dark Turn

With the Awami League outlawed and absent from the electoral fray, a vacuum has emerged — one that has not necessarily been filled with stability….reports Asian Lite News Bangladesh’s political landscape has
Go toTop

Don't Miss

Bhutan’s Royal Highland Festival Returns to Laya

The festival will also feature textile and souvenir stalls, and

India takes ‘note’ as Bhutan and China sign MoU

The two countries signed a MoU, four-year after Indian and