The National Assembly ratified the Convention on Framework Agreement between the Royal Government of Bhutan and European Investment Bank (EIB) Governing Activities in Bhutan.
The bank is a publicly owned international financial institution with the EU member states as its shareholders. The National Council rejected the EIB Framework Agreement in 2015 since it was not in line with the country’s external commercial borrowing guidelines.
Meanwhile, the National Assembly also ratified the Agreement between the Royal Government of Bhutan and the Green Climate Fund (GCF) on the Privileges and Immunities of the Green Climate Fund.
The Green climate fund is the world’s largest dedicated fund helping developing countries reduce their greenhouse emissions.
The National Council will deliberate on the two agreements.
Yeshi Dorji
