By Office of International and Public Affairs
15 July 2024 – The Asian Institute of Technology (AIT) and the Bhutan Development Bank Limited (BDB) have entered into a Memorandum of Understanding (MoU) and a Memorandum of Agreement (MoA) to foster cooperation and enhance capacity building for BDB employees.
AIT President Prof. Kazuo Yamamoto signed the agreement on behalf of AIT. From BDB, the MoU was signed by Karma Tshering, Chairman, and the MoA was signed by Ms. Tshering Om, Chief Executive Officer. Dr. Sumana Shrestha, Director of International Affairs at the Office of International and Public Affairs, and who coordinated this partnership, also attended the signing ceremony.
The MoU aims to facilitate collaboration between AIT and BDB by offering academic degree programs and short-term training sessions for BDB employees. The agreement encompasses the development of capacity-building initiatives, including certificate and professional master’s degree programs, and the execution of joint research projects of mutual interest.
The MoA delineates the roles, responsibilities, and coordination mechanisms for BDB employees participating in AIT’s master’s degree programs. It supports the BDB capacity-building program plan, enabling employees to earn a Master’s degree in various academic disciplines, as per AIT’s regulations. Under this Agreement, 10-15 BDB employees will do their master’s degrees in AIT starting from January 2025 semester.
The Bhutan Development Bank Limited, originally established as Bhutan Development Finance Corporation Limited by a Royal Charter on 31 January 1988, is dedicated to promoting industrial, agricultural, and commercial development in Bhutan. With a specialized deposit-taking license since March 2010 and a correspondent banking license granted in 2016, BDB operates as a quasi-bank with the largest network of branch and field offices in the country. It has about 35 branches across Bhutan and has about 540 employees.
This collaboration between AIT and BDB represents a significant step in enhancing professional development and academic advancement for BDB employees, reinforcing the commitment to capacity building and mutual growth.
During the trip, the AIT President also had a courtesy call on H.E. Lyonpo Lekey Dorji, Minister of Finance and met with Honorable Former Minister of Agriculture and Forests, H.E. Yeshey Penjor (also an AIT Alumnus), Mr. Nawang Norbu, Founder and Executive Director of Bhutan Ecological Society, Mr. Ujwal Dahal, CEO of Druk Holding and Investments Inc. (DHI), Mr. Sangay Dorji, Board Director of Institute of Happiness (IOH), Mr. Kezang, CTO and Board Director of IOH, Mr. Casper Bodewitz, CEO of Green E-Integrated, Thimphu TechPark and Mr. Kencho Tshering, General Manager of Construction Development Corporation Limited (CDCL), and discussed on possible collaborative activities focussing on long term and short term capacity building programs and research collaborations.
Dr. Sumana Shrestha, H.E. Lyonpo Lekey Dorji, and Prof. Kazuo Yamamoto (From left to right)
With CDCL Managing Director
Visit to Super Fab Lab under DHI
Dr. Sumana Shrestha, Mr. Nawang Norbu, Prof. Kazuo Yamamoto, and H.E. Yeshey Penjor (From Left to Right)
