Asian Development Bank

Manila, June 20 (IANS) The Asian Development Bank (ADB) on Thursday said it has approved a policy-based loan of 40 million US dollars to help Bhutan further strengthen its public financial management and green growth. The concessional loan aims to support policy reforms in expanding domestic resource mobilisation, promoting private sector development, and introducing climate change adaptation and mitigation measures, Xinhua news agency reported. Under the program, domestic resource mobilisation is expected to be strengthened by improving customs and property tax administration, implementing a medium-term revenue strategy, and enhancing the governance and management of state-owned enterprises. "This will significantly reduce…