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Tuesday, 16 July 2024

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Economic Affairs Committee convened a consultation meeting with the Department of Livestock , RMA), and BDBL.

Economic Affairs Committee convened a consultation meeting with the Department of Livestock , RMA), and BDBL.

The Economic Affairs Committee convened a consultation meeting with the Department of Livestock (DoL), the Royal Monetary Authority (RMA), and the Bhutan Development Bank Limited (BDBL).

After completing the public consultation meetings and Focus Group  Discussions with the selected Gewogs of Samdrup Jongkhar, Trashiyangtse, Trashigang, Pema Gatshel and Zhemgang Dzongkhags, the EAC convened a follow up consultative meeting with relevant agencies.

The Director and officials from the Department of Livestock shared insights on how rural credit impacts agricultural productivity, rural entrepreneurship, and overall economic wellbeing of rural communities in the country. The committee also discussed various legislative and policy issues surrounding rural credit.

The Governor and officials from the RMA presented the laws, policies, and regulations governing rural credit in Bhutan, the volume of rural credit disbursed in the last 10 years, sectoral allocation of rural credit, spatial allocation by Dzongkhags, and challenges associated with expanding access to rural credit.

The CEO and team from the BDBL presented a range of credit products and their features, sectoral allocation of BDBL loan, status of rural credit disbursement, and challenges faced by the bank. The committee emphasized its commitment to working towards policy solutions and potential reforms to make rural credit more accessible and affordable for inclusive economic growth.

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