The Bhutan National Bank (BNB) has disbursed its first loan of Nu 500,000 under the priority sector lending (PSL) scheme to a farmer from Bjena gewog in Wangduephodrang for potato farming, according to a press release from the bank.

“BNBL is proud to be a part of the sector to translate and implement His Majesty’s noble aspiration,” the press release states.

To access PSL, the interested applicants may first approach the gewog centres of their respective dzongkhags where the business is to be established.

Cottage and Small Industries (CSI) sector are being identified as a priority sector for targeted lending under the PSL scheme. The CSI sector is divided into agricultural CSI and non-agricultural CSI activities.

Any individual, group or incorporated companies can avail PSL loan to a maximum of Nu10 million for new projects as well as for business expansion at a preferential interest rate of 8 percent per annum for agricultural CSI (primary production) and 8.5 percent per annum for non-agricultural CSI& value-chain financing in agricultural CSI.

“The bank would like to encourage all aspiring applicants to avail this special credit facility,” the press release states. “Our credit officers are available for help and support at our 24 extensions and 11 branch offices.”

Staff reporter