National Council endorses MIGA

In a move to facilitate better cross-border trade between Bhutan and India through removal of double taxation, and to attract Indian investments in the field of education and health, the National Council unanimously ratified the MIGA or Multilateral Investment Guarantee Agreement. MIGA was only one of the five agencies of the World Bank Group so prior to joining the group, Bhutan benefitted through two other groups through grants and credits by supporting special agencies. Being a MIGA member will help Bhutan bring in more foreign direct investment, lower borrowing cost, give access to advisory services to the government, resolve disputes and facilitate access to environmental and social expertise among others. Bhutan will be the 180th country to join MIGA.

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