Thimphu, as the political and economic center of Bhutan, has a dominant agricultural and livestock base, which contributes 45% of the country's GNP. Tourism, though a contributor to the economy, is strictly regulated, maintaining a balance between the traditional, development and modernization. Thimphu contains most of the important political buildings in Bhutan, including the National Assembly of the newly-formed parliamentary democracy and Dechencholing Palace, the official residence of the King, located to the north of the city. Thimphu is co-ordinated by the "Thimphu Structure Plan", an Urban Development Plan which evolved in 1998 with the objective of protecting the fragile ecology of the valley. This development is ongoing with financial assistance from the World Bank and Asian Development Bank.