Signing of the Statement Acknowledging the Ratification of the Country framework Agreement between Bhutan and the European Investment Bank

On 31 January 2022, the European Investment Bank (EIB), the Bank of the European Union, and the Kingdom of Bhutan officially acknowledged the ratification of the Country Framework Agreement which allows the EIB to start operations in Bhutan. Ambassador Pema Choden, Hon’ble Foreign Secretary signed the statement with Vice President of the EIB Christian Kettel Thomsen at the EIB headquarters in Luxembourg. 

The EIB will provide long-term financing, advisory support and blend EU grants for projects to support global climate action, climate resilience, and energy efficiency as well as contribute to long-term sustainability, resilience and competitiveness of Bhutanese economy. The EIB operations in Bhutan will significantly expand the existing EU economic support for Bhutan,  especially on climate action, climate resilience and energy efficiency.

EIB and Bhutan signed the country framework agreement on 20 November 2020, allowing the EIB to start supporting projects in Bhutan both with finances and technical assistance. The Country Framework Agreement was ratified by the Parliament of Bhutan on 31 March 2021.