𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐒𝐭𝐢𝐦𝐮𝐥𝐮𝐬 𝐏𝐫𝐨𝐠𝐫𝐚𝐦𝐦𝐞 𝐌𝐨𝐛𝐢𝐥𝐢𝐬𝐞𝐬 𝐍𝐮 𝟒.𝟐 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐓𝐨 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐉𝐨𝐛𝐬, 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞𝐬 𝐀𝐧𝐝 𝐅𝐨𝐨𝐝 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲

…𝒕𝒂𝒓𝒈𝒆𝒕𝒆𝒅 𝒇𝒖𝒏𝒅𝒊𝒏𝒈, 𝒔𝒌𝒊𝒍𝒍𝒊𝒏𝒈 𝒂𝒏𝒅 𝒚𝒐𝒖𝒕𝒉 𝒆𝒏𝒈𝒂𝒈𝒆𝒎𝒆𝒏𝒕 𝒑𝒓𝒐𝒈𝒓𝒂𝒎𝒎𝒆𝒔 𝒂𝒊𝒎 𝒕𝒐 𝒃𝒐𝒐𝒔𝒕 𝒆𝒄𝒐𝒏𝒐𝒎𝒊𝒄 𝒓𝒆𝒄𝒐𝒗𝒆𝒓𝒚 𝒂𝒏𝒅 𝒓𝒆𝒅𝒖𝒄𝒆 𝒊𝒎𝒑𝒐𝒓𝒕 𝒅𝒆𝒑𝒆𝒏𝒅𝒆𝒏𝒄𝒆

By Kezang Choden

The Economic Stimulus Programme (ESP) remains a central component of the government’s national recovery plan, designed to promote job creation, strengthen the private sector, and direct investment into priority sectors. To date, 50 percent of the total ESP outlay has been secured, with funds channelled into ten key sectors, including agriculture, livestock, tourism, media, manufacturing, skilling, and entrepreneurship development.

Under Window 1 of the ESP, the Bhutan Development Bank Limited (BDBL) received 3,969 loan applications worth approximately Nu 11.6 billion. Out of these, 3,698 applications have been assessed and 2,195 approved, resulting in loans worth Nu 2.347 billion. So far, Nu 1.19 billion has been disbursed to 1,417 beneficiaries. These concessional loans are intended to support the launch of new economic activities and generate employment.

Window 2, referred to as the Reinvigoration Fund, focuses on helping existing businesses recover and grow. As of the December 31, 2024 deadline, seven Participating Financial Institutions (PFIs) had received 295 loan applications. Of these, 187 applications were approved, amounting to Nu 667.32 million in loans. Together, the two funding windows have resulted in more than Nu 4.2 billion in approved loans. The government expects the programme to help create over 12,000 jobs across supported sectors.

Between June 2024 and March 2025, over 8,000 De-suups received post-training support under the De-suung Skilling Programme (DSP), which aims to equip participants with practical skills to transition into employment or self-employment. In addition to the DSP, targeted assistance has been extended to the tourism and creative sectors, recognising their potential for job creation. These efforts are further supported by the Youth Engagement and Livelihood Programme (YELP), which provides platforms for young people to gain work experience and develop careers.

Tenzin Dolma, a resident of Thimphu and a graduate of Royal Thimphu College, completed her degree in 2019. Like many recent graduates, she initially struggled to find a stable, well-paying job. “The income I earned was not sufficient to manage my daily expenses. Life in Thimphu is expensive, and surviving on a limited salary from the private sector was difficult,” she said. In January this year, she registered under the YELP and was soon placed in a private firm through the programme. Her salary is now co-funded by her employer and the programme.

“I now receive half my salary from the office and the other half from YELP. The payment is timely and it’s enough to cover my personal expenses. This support has made a big difference in my life,” she said. Her experience highlights how YELP is assisting young jobseekers with their entry into the workforce while easing the financial challenges often associated with early employment.

Pema Wangchuk, a participant of the 68th batch of De-suung, recently completed a skilling programme in confident communication and collaboration at the Paro Commando Wing. The training, he said, was a significant step in his personal and professional growth. “I focused on two critical areas- communication and artificial intelligence- which I believe are essential in Bhutan’s digital and entrepreneurial landscape,” he shared.

He explained that improving communication skills, especially in English, was important for expressing ideas clearly and confidently. “The ability to communicate effectively is no longer just a soft skill, but a foundation for professional growth and meaningful participation in national development,” he said.

Pema Wangchuk also said the programme exposed him to the potential of technology in solving real-world problems. “I want to keep learning and exploring new technologies. I believe this knowledge can help me build something that contributes meaningfully to the future,” he said. His account reflects how the DSP is supporting citizens to build relevant skills that can contribute to national progress.

To strengthen the agriculture and livestock sectors, the government has introduced Minimum Price Guarantee and Aggregation Schemes under the ESP. These schemes focus on six crops-wheat, maize, rice, quinoa, peanuts, and soybean- and three livestock products- pork, fish, and chicken. The initiatives, implemented through the Farm Machinery Corporation Limited (FMCL) and the Bhutan Livestock Development Corporation Limited (BLDCL), aim to stabilise farmer incomes and improve market access.

San Bir Gishing, a pig farmer from Gozhi Gewog in Dagana Dzongkhag, currently runs the largest piggery in the dzongkhag with over 250 pigs. He plays a key role in enhancing pork self-sufficiency in the region and now plans to expand his farm. “By increasing local production, we can reduce reliance on imported pork, which affects our food security and foreign currency reserves,” he said.

He is seeking financial support under the ESP to increase pig housing capacity, improve feed management, and upgrade infrastructure. The planned expansion is expected to boost productivity and create employment for local youth, particularly those unemployed or at risk of rural-urban migration. This aligns with national objectives under the 13th Five-Year Plan to promote high-value livestock production and strengthen rural livelihoods through agricultural entrepreneurship.

Looking ahead, the ESP is expected to extend support to home ownership and education loan programmes. These initiatives aim to improve financial security and increase access to higher education for young people. In a bid to encourage innovation and support startups, the government has committed Nu 100 million to establish venture capital services, which are expected to support new business growth and contribute to broader economic development.