Rs30.8 bn interest free loans issued to 893,674 persons

ISLAMABAD: Ehsaas Interest Free Loan programme has so far issued loans worth Rs30.80 billion till August to the 893,674 eligible persons in various districts of the country.

According to an official source, loans worth Rs30.80 billion have been issued to the eligible persons from July 2019 till August 2020 while the programme was underway in 110 districts of the country.

Around 46 percent of the loans have been issued to women consumers, 34 percent to consumers for small business, 20 percent to the livestock sector, 16 percent for the handicraft and embroidery sector, eight percent for agriculture, 13 percent for services sector and eight percent have been issued in the manufacturing sector, the source revealed.

The programme is aimed to revolutionise lives of poor segments of the society enabling them to start a small business to earn a respectable living. According to the Ehsaas programme, every month around 80,000 interest free loans will be disbursed nationwide during the period of four years. Range of the interest free loans is Rs20,000 to Rs75,000. As many as 3.8 million interest free loans will be provided to 2.28 million households. In total, 14.7 million people will benefit from this component. Interest free loans are accessible through 1,110 existing loan centers operated by partnering organisations.