The European Commission’s (EC) has indicated that it was likely to commit 14 million euros as assistance to Bhutan for the renewable natural resources sector, good governance and trade facilitation projects from 2007 to 2013, under a multi-annual indicative programme (MIP).

The multi-annual indicative programme, which was previously called the national indicative programme, is a programme document for more than one year. It is based on the country strategy of EC’s assistance to Bhutan and its indication of commitment.

The first phase of the MIP, from 2007-2010, amounts to 8 million euros and supports the renewable natural resources (RNR) and good governance sector. The second phase after 2010 will support trade facilitation along with RNR and good governance.

Signing the memorandum of understanding on February 18, the head of delegation of the European Commission to Bhutan, Ms Daniele Smadja, said that the signing “will pave the way for future cooperation between Bhutan and the EC.”

She said that the EC would help support Bhutan derive benefits from globalisation and from joining the WTO and continue their support in RNR and good governance.

Foreign Secretary Yeshey Dorji, who signed the MoU on behalf of the Bhutanese government, said that the EU was one of our largest multi-lateral development partners and that Bhutan attaches great importance to this relation. Source: Kuenselonline