June 5: The European Commission has committed 14 million Euros for the 10th five year plan. The money will be used to support the democratization process and help alleviate poverty.

An agreement to this effect was signed by the Foreign Secretary Yeshey Dorji and Mr. Jean Christian Remond, the head of the unit in charge of Bhutan, India, and Nepal of the European Commission yesterday.

The money will be used in Renewable Natural Resources sector and promote Good Governance and trade. Mr. Remond led the European Commission delegation to the third biennial meeting between the Royal Government and the European Commission on Tuesday.

"We have defined 3 main schemes which we would like to explore with Bhutan between now and 2013 which is the period within which we are presently working. One is renewable natural resources, another one is democratization and good governance and third element is just to help promoting trade both domestically and internationally for Bhutan," said Mr. Remond.

Officials from the Ministries of Foreign Affairs, Agriculture, and Economic Affairs and GNH Commission also attended the signing.