The Royal Monetary Authority’s (RMA) Priority Sector Lending (PSL) scheme has received 92 applications following its launch in December last year. Sixty seven projects have been approved by seven dongkhags as of March.
The figures were obtained from the RMA’s Quarterly Report released recently.
Twenty six-year-old Kinley Gyeltshen from Khotakha in Wangdue Phodrang is the first person to receive loan from Bhutan National Bank under the PSL scheme. With the money, he has grown potatoes in an eight-acre land. He hopes to be able to pay off his loan from the first harvest this September.
Kinley Tshering from Namseling in Thimphu, another person who have availed loan under the PSL scheme, has taken up yogurt production. Others have invested in Shitake mushroom farming.
Many such projects have taken off across the country under the PSL scheme. This, Governor Dasho Penjor said, is a reflection of the dzongkhags supporting agriculture as well as youth engaged in this PSL activities.
The Bank of Bhutan and Bhutan National Bank have sanctioned a loan amount of about Nu 44 m against 50 various agriculture and non-agriculture cottage and small industry applications so far.
“T-Bank and Druk Punjab National Bank have limited network in the dzongkhags and also they are smaller banks, but eventually, they will definitely join the group in considering loans for PSL activities,” the Governor said.
He added the performances of the Dzongkhag PSL Committees will be incorporated in the Annual Performance Agreements from next year.
The PSL guideline is a result of His Majesty The King’s Address at the 109th National Day Celebration in Trongsa in 2016.
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