Entrepreneurship: Nine entrepreneurs were selected in the second round of Loden-DHI Fund, a collateral and interest free funding window for aspiring entrepreneurs.
This takes the total number of Loden entrepreneurs to 106.
The loan, however, has to be repaid within three years time after the grace period of six months.
A total of Nu 6.5 million would be invested to finance nine selected projects. Among the selected projects were online ventures, kiwi plantation, textile design, environmental service firm and wooden toys manufacturing.
The director of the Loden Entrepreneurship Programme, Gerard Tardy said the quality of business plans is improving and the competition is becoming more intensive. “We received a good number of quality proposals and were only able to support a few.”
A press release issued by the organisation stated that Loden only helps those businesses that has social impacts besides financial viability.
Today, Loden has sixty-three projects outside Thimphu out of which twenty-eight of the beneficiaries are women.
The Loden-DHI fund was launched after the Druk Holding and Investments (DHI) decided to do away with its Business Entrepreneurship Growth and Innovation (BEGIN) Programme, to avoid recurring initiatives.
DHI has provided Loden Foundation with Nu 20 million for entrepreneurship development.