100 million loan scheme announce for Tibetans, funded by USAID

Author(s): 

Dharamshala, April 25, 2017: The Tibetan PM in Exile Dr.Lobsang Sangay attended the ‘First Special Conference of All India Tibetan Refugee Trader’s Association’ held in Ludhiana on Sunday Night . Dr.Lobsang launched the 100-million loan scheme for Tibetan sweater sellers.

The Press Secretary of Central Tibetan Administration informed this correspondent that PM while declaring the scheme said that pilot loan scheme is aimed at providing relief to the seasonal Tibetan hosiery and sweater traders, who make up about 45% of the Tibetans living in India and is targeted at small scale sweater sellers needing financial assistance. He further elaborated, “ the 100 million loan would be disbursed to 100 sweater associations for a fixed period of six-months with a relatively low interest rate of 3% and failure to return the loan would engender the incurring of a much higher interest rate.”

Other CTA dignitaries present at the conference include Minister for Department of Finance Karma Yeshi, Planning Commissioner Dr. Konchuk Tsundue and SARD Director / Chief Resilience Officer Kaydor Aukatsang.

Executive head of National Sweater Association and over 300 Tibetan sweater sellers representing 164 Sweater Assocaitions converged in Ludhiana for the conference. The National Sweater Association currently consists of 164 recognised Sweater Associations under its umbrella.

The 100 million loan scheme is primarily funded by USAID, which contributed 800 Lakhs while the remaining 200 Lakhs were raised by the Department of Finance.

Date: 
Tuesday, April 25, 2017