Agency: During the Meet-the-Press on 6th December, the government provided updates on its efforts to address the challenges faced by key sectors, including tourism, construction, and hotels, while also clarifying the status of the Economic Stimulus Plan (ESP). Despite initial hurdles, the government reiterated its commitment to revitalize the economy, and implement the ESP effectively.
Director, Prime Minister’s Office, Chencho, acknowledged the slow progress of ESP, which aims to inject Nu 15 billion into the economy outside the 13th Five-Year Plan (FYP). To address implementation delays, significant revisions to the loan disbursement framework have been made.
“The government has directed that the entire Nu 3.3 billion concessional loans will now be handled exclusively by the Bhutan Development Bank Limited (BDBL),” said the Director.
He said that a dedicated team will be established within BDBL to assess and disburse loans efficiently. Furthermore, the CEO of BDBL has been included in the ESP Steering Committee to promptly address any implementation challenges.
Applications already submitted to the other six Participating Financial Institutions (PFIs) will be transferred to BDBL. However, discussions are ongoing to determine whether loans sanctioned by the PFIs will also be transferred or remain with those banks.