Lyonchhen’s visit to ADB, Philippines.

Press Release

Sub: Lyonchhen’s visit to ADB, Manila, Philippines

Lyonchhen Tshering Tobgay, visited ADB’s headquarters in Manila, Philippines on 5

September 2014 on the invitation extended by ADB President Takehiko Nakao.

During the visit, Hon’ble Lyonchhen met with the ADB Board colloquium and addressed

on Board Colloquium: “Three Decades of Development Partnership Between Bhutan and

ADB”. Hon’ble Lyonchhen thanked the Board for their support and the forum provided

an opportunity to clarify on some issues raised by the Board.

Hon’ble Lyonchhen also addressed ADB’s staff as part of its Eminent Speaker Forum on

“Bhutan’s Economic Vision: Prosperity for All” and highlighted on the Government’s

priorities in the areas of tourism, energy, small and cottage industries and mining.

During the visit, Lyonchhen also launched a book entitled “20th by 2020: Bhutan’s drive

for improved governance with the Royal Audit Authority and Anti-corruption

Commission”.

ADB President assured Bhutan of ADB’s continued support. He highlighted that ADB’s

2014-2018 Country Partnership Strategy for Bhutan approved in July 2014 will focus on

transport, energy, urban development, and finance. It will also continue to provide

technical assistance for skills development and water resource management. The newly

established ADB Resident Office in Bhutan is expected to deepen the relationship

between ADB and Bhutan. Hon’ble Lyonchhen thanked for ADB’s financial and

technical support and its contribution to Bhutan’s socio-economic development.

During the visit, Hon’ble Finance Minister, Lyonpo Namgay Dorji and ADB President

signed a loan and a grant agreement of $50.35 million for South Asia Sub regional

Economic Cooperation (SASEC) Road Connectivity Project.

Although the visit was brief, it was successful, as it has brought ADB and Bhutan closer

by Lyonchhen’s meeting with the Board and the senior management of the ADB and

provided an excellent opportunity to clearly spell out the priorities of the Government.

This should facilitate better cooperation and targeted development intervention by the

ADB based on the Government priorities.

The ADB is a multilateral development finance institution, which was established in

1966 with 67 member countries. ADB’s views and interests are represented by a Board of

Governors and Manila-based Board of Directors. There are 12 Board of Directors who

represent the 67 member countries of ADB. ADB’s vision is an “Asia and Pacific region

free of poverty”. Its mission is to help its developing member countries (DMCs)

substantially reduce poverty and improve the quality of life of their people.

Bhutan became a member of ADB in 1982 and is in the same constituency as

Afghanistan, Bangladesh, India, Lao PDR, Tajikistan and Turkmenistan. Since joining

ADB in 1982, Bhutan had received $337.46 million through 29 loans, $135.39 million

for 9 grants, and $54.89 million for 129 technical assistance projects, as of the end of

2013. ADB is presently, Bhutan’s largest multilateral development partner.

........................................................................

Lyonchhen meets Shri Narendra Modi Nath, Prime Minister of India

Lyonchhen meets Shri Narendra Modi Nath, Prime Minister of India

Read More