The Bhutanese Leading the way.
The Economic Stimulus Program (ESP) has received a total of 3,969 applications for Concessional Credit Lines (CCLs) under Window 1 worth Nu 8.997 billion (bn) as of 28th February 2025.
Of the above, 892 applications worth Nu 860.54 million (mn) were approved and 960 applications worth Nu 4.5 bn declined, and there are 2,111 pending applications worth Nu 5.613 bn.
The total amount disbursed for approved projects stands at Nu 373.51 million (mn) out of the total amount of Nu 860.5 mn.
As of 28th February 2025, the ESP Secretariat has provided a comprehensive status update that reveals critical insights into the program’s performance, sectoral distribution, and geographic impact.
In the primary agriculture and livestock sector, there were 3,247 applications received, with 774 approved, amounting to Nu 307.90 mn, out of which Nu 190.8 mn was disbursed for 535 applications.
In the production and manufacturing sector, specifically for cottage and small industries (CSIs), there were 396 applications received. Out of these, 90 applications were approved, amounting to Nu 69.63 mn, with a total disbursed amount of Nu 48 mn for 73 applications.
The scale-up of existing startups saw 121 applications submitted, with 19 approved for a total of Nu 27.02 mn. The disbursed amount for this category was Nu 22 mn for 18 applications, while 15 applications were declined, and 87 remain pending.
In the movie production sector, 49 applications were received, but none were approved. 43 applications remain pending amounting to Nu 245 mn while 6 applications were declined.
The production and manufacturing sector for medium enterprises received 156 applications, with 9 approved, amounting to Nu 455.99 mn. This sector had a disbursed amount of Nu 112 mn, while 75 applications were declined and 72 are pending.
The distribution of disbursed amounts across various dzongkhags reveals disparities. Notably, Thimphu and Wangdue have received the highest disbursements, with amounts of Nu 56.59 bn and Nu 97.15 bn, respectively. The total disbursed amount across all Dzongkhags is Nu 373.51 bn.
The Reinvigoration Fund (Window 2) which gives an interest subsidy has also made strides, with 295 applications received and 187 applications worth Nu 667.3 mn was approved.
BOBL approved 50 applications out of 127 applications received, amounting to Nu 304 mn, while BNBL approved 23 applications out of 52, amounting to Nu 53.5 mn.
BDBL approved all the 83 applications received, amounting to Nu 64 mn. Similarly, DPNB approved all the 12 applications received, amounting to Nu 210 mn. RICBL also approved all the 4 applications they received, amounting to Nu 15 mn.
T Bank approved 1 application out of the 3, amounting to Nu 2.4 mn, and BIL approved all the 14 applications received, amounting to Nu 17 mn.
Looking ahead, ESP has plans to launch new initiatives, including an Education Loan Scheme with a budget of Nu 600 mn and a Home Ownership Scheme with a budget of Nu 1.5 bn.
