681 PSL LOAN AP­PLI­CA­TIONS RE­CEIVED

Business Bhutan - - Money -

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.

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