Vienna, Oct 7 (Calcutta Tube) Austria has provided a $7.92 million (5.8 million euro) credit to Bhutan for electrification of its villages, the Austrian foreign ministry has said.
The loan can help over 1,000 households in 11 Bhutan villages at an elevation of over 3,000 metres to set up an electric circuit.
With support from Austria, by the end of 2013, Bhutan is expected to have all its villages connected with the electricity network, Xinhua reported.
Austria has been engaged in hydropower development and electrification of rural areas in Bhutan for the past 15 years.
Production and export of electricity are now the ‘engines of the Bhutanese economy’. ‘Currently, about 40 percent of government revenue comes from this area,’ Austrian Foreign Minister Michael Spindelegger said Tuesday.