The proposed amount is slated for release in April 2014, following the completion of internal procedures within the Government of India, according to Bhutan’s Ministry of Foreign Affairs.
Additionally, the Indian government has approved the draft intergovernmental agreement between Bhutan and India for the development of joint venture (JV) hydropower projects.
The JV projects include 600MW Kholongchhu project, 570MW Wangchhu, 770MW Chamkharchhu and 180MW Bunakha.
Development work on the Kholongchhu project will commence after both the countries sign the Intergovernmental Joint Venture.
