The Asian Development Bank will increase its assistance to Bhutan for the next two years, according to ADB President Haruhiko Kuroda.
The 2011-2012 ADB budget for the South Asian nation amounts to USD58.4 million, up by 60 percent from the previous two-year allocation.
Kuroda made the announcement at the conclusion of his three-day visit to Bhutan. He lauded the country for its significant achievement in meeting the Millennium Development Goals.
Bhutan was able to cut its poverty level from more than 36 percent in 2000 to around 23 percent in 2007, according to an ADB press release.
ADB has been supporting energy, transport, urban infrastructure, finance, and governance programs in Bhutan.