Around 1.2 mln loans disbursed under Ehsaas Interest Free Loans Scheme

ISLAMABAD: Ehsaas Interest Free Loans programme has disbursed a total of 1.2 million loans (46 percent loans to women) with a value of Rs 44.42 billion since its inception till March 2021.

According to the Economic Survey 2020-21 announced by Minister for Finance and Revenue, Shaukat Tarin, in a press conference, held here Thursday, a total of 490, 368 interest free loans (47 percent loans to women) amounting to Rs 17.50 billion have been disbursed to the borrowers during July- March Fiscal Year 2021.

Ehsaas Interest Free Loans Scheme launched in July 2019 is a major component of the National Poverty Graduation Initiative with an aim to graduate the poorest households out of poverty and set them on a course of economic and social prosperity.

As part of Ehsaas framework, 80, 000 interest free loans (50 percent women) are being disbursed every month across Pakistan to reach 2.28 million households over the next four years.

The range of loan size is Rs 20, 000 – Rs 75, 000. Any Pakistani aged between 18-60 years belonging to 110 districts available on the PPAF website (www.ppaf.org.pk/NPGI.html) can apply for an interest free loan under the Ehsaas Initiatives.

Interest free loans are accessible through 1100 existing loan centres operated by partnering organizations which are manned with competent people to guide the borrowers.

Overall, 1, 100 loan centres or branches have been established in about 110 districts by 24 partner organizations across the country.