681 PSL LOAN APPLICATIONS RECEIVED
A total of 681 applications were received, as of June end of which 78% were agriculture CSI projects and the remaining 22% were for non-agriculture.
From seven dzongkhags in the first quarter, a total of 19 dzongkhags were engaged in reviewing the proposal. Trashiyangtse did not receive any proposals to date. Thimphu received the highest numbers of PSL applications with 169 followed by 113 in Tsirang and 69 in Samtse.
The number of financial institutions has also increased from two to seven. The total number of PSL applications received by dzongkhags increased from 97 in the first quarter to 584 in the second quarter. The dzongkhag PSL committees approved 513 projects.
Of the total approved by the dzongkhags, 278 has reached the financial institutions, of which loan approvals were given for 127 projects amounting to Nu 138.55M. As of June, Nu 41.69 million was disbursed by the financial institutions.
The report also stated that 13 projects were withdrawn by the clients themselves with few citing high livestock insurance costs and requirement to obtain a paid CSI license as reasons.