To mitigate the social and economic consequences of COVID-19 pandemic, UNDP Bhutan and Loden Foundation have rolled out a special funding window called “Loden-UNDP Bhutan COVID-19 Response Fund”. This initiative encourages Bhutanese individuals and groups to come up with innovative business proposals to address the challenges caused by the COVID-19 pandemic in the country.
The business proposals must address the challenges and problems through agriculture production, jobs creation, or tackling emerging needs using innovation, technology and nature-based solutions.
The COVID-19 Response Fund provides collateral and interest free loans up to Nu.1.5 million a project.
According to joint press statement from UNDP Bhutan and Loden Foundation, the funding window is rolled out recognising that the COVID-19 pandemic is more than a health emergency, it’s a development crisis with a potential to leave behind a trail of massive social, economic and political impacts.
The Resident Representative of UNDP Bhutan said: “It is also one of the most effective ways to allow young people to make concrete contributions and support Bhutan’s collective effort to build resilience in the society and economy and to prepare for a strong comeback”.
The selection committee will review the proposals every Friday and inform selected applicants until the call for the proposal is withdrawn.
Samten Dolkar
