Bhutan and ADB
In the Spotlight
Bhutan’s Prime Minister Tshering Tobgay discusses the development challenges facing his country.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
Bhutan has made impressive gains in social, economic, and political development over the years. Its unique approach to progress, expressed in the philosophy of Gross National Happiness, demonstrates the country's commitment to a model of development going beyond mere economic growth.
A new country partnership strategy with Bhutan for 2014-2018 will seek to promote inclusive and environmentally sustainable growth in the landlocked South Asian kingdom and to boost cooperation with its neighbors.
ADB has partnered with the Government of Bhutan since 1982, and today it is the country's largest multilateral development partner. ADB has maintained close cooperation with other multilateral and bilateral funding agencies, as well as civil society organizations, to strengthen the effectiveness, quality, and sustainability of assistance. The new resident mission in Bhutan is expected to further enhance aid coordination.
ADB will assist the government in achieving the goal of its 11th Five-Year Plan (2013-2018) - self-reliance and inclusive green socioeconomic development - by focusing on the complementary strategic agenda under Strategy 2020, ADB's long-term strategic framework.
0.73(2013) Population in millions
1.8%(2008-2013) Average annual population growth
12.0(2012) Population living below the national poverty line