Government provides more than Nu 1.2 billion as CSI loans

THIMPHU, 19 June 2021, (TON): The government has provided more than Nu 1.2 bn as Cottage and Small Industries (CSI) loans to the people. Finance Minister Namagay Tshering said this while responding to a question from Jomotshangkha Martshala constituency’s MP, Norbu Wangzom at the National Assembly’s question hour.

The Finance Minister said the government provided more loans in the agriculture sector.

Finance Minister said “since the establishment of the CSI bank, within just sixteen months we have given Nu 1.2 bn as loans. From this, we can see how much funds we have provided to the people and the number of employment and business opportunities we have created. If we categorize the loans for agriculture, we have provided more than Nu 500 M. Likewise, Nu 461 million for livestock development, Nu 200 M for manufacturing and production sector, Nu 98 M for the service sector and Nu 33 M for restarting businesses.”

In addition, Tshering Chhoden, MP from Khar Yurung constituency in Pema Gatshel raised the issue of how women aspiring for textile initiatives have not been received well in availing loans from CSI banks.

Finance Minister said that the CSI banks and the National Credit Guarantee Scheme (NCGS)  has been established to monitor loans in productive areas which generate more employment opportunities. It is not like the manufacturing and production sector did not get loans. We have provided Nu 200 M adequately. Of which the textile category was provided with Nu 53 M consisting of 339 applicants.

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