WASHINGTON DC, June 21, 2022 —The World Bank approved $52.5 million financing to help the Royal Government of Bhutan strengthen fiscal and financial sector stability, green and private sector-led growth.
The Green and Resilient Development Policy Credit (DPC), the first of a series of two credits, will help the Royal Government of Bhutan focus on policies that build resilience as the economy recovers from the COVID-19 pandemic.
“The Bank is supporting Bhutan in its efforts to achieve green, resilient and inclusive development which is critical as the Kingdom recovers from the COVID-19 pandemic,” said Mercy Tembon, World Bank Country Director for Bangladesh and Bhutan.
This support is in line with the World Bank’s Country Partnership Framework (CPF FY21-24) for Bhutan, which focuses on economic and environmental resilience, as well as strengthening human capital and digital development. The Cabinet has approved the e-commerce policy which promotes digital development.
“Climate change is already impacting part of Bhutan’s natural renewable resources including agriculture, water, and forestry. The financing will help Bhutan strengthen its resilience and sustainability,” said Adama Coulibaly, World Bank Resident Representative for Bhutan.
