SDF disburses USD13M loan to Drukair Corporation

THIMPHU (Kuensel/ANN) – The SAARC Development Fund (SDF) disbursed a loan of USD13 million (around Nu 918 million) to Drukair Corporation Limited for the purchase of ATR aircraft in Thimphu on September 20.

“SDF financing will help Drukair Corporation Limited extend aviation connectivity with Bangladesh, India and Nepal to provide economic connectivity and regional integration,” said CEO of SAARC Development Fund, Sunil Motiwal (PhD).

The loan was disbursed after an agreement was signed among the Ministry of Finance, the government, SDF, and Drukair in August. The economic and infrastructure windows of SDF focus on trade, economics, transportation, tourism.

The current project fulfills SDF’s mandate of regional integration and collaboration through project financing.

The ATR financing will help increase the number of regional and international tourists, a press release from the SDF stated. In a year, Bhutan attracts more than 254,704 regional and international tourists. “The project would not only help Bhutan promote its tourism sector but also ensure greater connectivity to achieve the economic development in the region and promote the welfare and prosperity of the people in SAARC region,” said Sunil Motiwal.

Paro Internation Airport from where Drukair operates. PHOTO: KUENSEL/ANN