<\/a>THIMPHU, 22nd December 2025: The Economic Stimulus Programme (ESP) Steering Committee received a letter from the Anti-Corruption Commission (ACC) on 19th December, 2025 conveying the findings pertaining to the investigation on ESP loans and actions to be taken by the Committee.<\/p>\n\n\n\nThe Steering Committee convened a special meeting on 22nd December, 2025 to deliberate on the findings to ensure immediate implementation of the ACC\u2019s recommendations. The Committee noted the following key conclusions from the investigation:<\/p>\n\n\n\n
\u25cf No Corruption Established: The investigation \u201chas not established any elements of corruption\u201d in the implementation of ESP loans for the four medium industry projects;<\/p>\n\n\n\n
\u25cf Clearance of Specific Project: The investigation has \u201cdetermined that no further action is necessary at this stage\u201d for one project; and,<\/p>\n\n\n\n
\u25cf Procedural Deviations: The investigation revealed \u201cprocedural lapses in the three projects\u201d by the Participating Financial Institutions (PFIs) in the approval and implementation of the loans in three medium industry projects.<\/p>\n\n\n\n
In accordance with the ACC\u2019s findings and the existing administrative framework between the Government and the Central Bank, the Steering Committee has initiated the following actions:<\/p>\n\n\n\n
\u25cf The Royal Monetary Authority (RMA) has been directed to immediately recover or cancel loans sanctioned for the three projects identified by the ACC;<\/p>\n\n\n\n
\u25cf The RMA is tasked with conducting on-site inspections of all approved ESP loans. This measure aims to strengthen oversight and ensure rigorous monitoring mechanisms of loan disbursements;<\/p>\n\n\n\n
\u25cf The ESP Secretariat will coordinate with the RMA and submit an Action Taken Report by 15th January 2026 for onward submission to the ACC; and,<\/p>\n\n\n\n
\u25cf The Committee will reconvene next week to assess the progress and determine if further actions are necessary.<\/p>\n\n\n\n
The ESP Steering Committee reaffirms its commitment to transparency, institutional accountability, and the prudent management of public funds to ensure they serve their intended purposes.<\/p>\n\n\n\n
ESP STEERING COMMITTEE<\/p>\n","protected":false},"excerpt":{"rendered":"
PressRelease: THIMPHU, 22nd December 2025: The Economic Stimulus Programme (ESP) Steering Committee received a letter from the Anti-Corruption Commission (ACC) on 19th December, 2025 conveying the findings pertaining to the investigation on ESP loans and actions to be taken by the Committee. The Steering Committee convened a special meeting on 22nd December, 2025 to deliberate on the findings to ensure immediate implementation of the ACC\u2019s recommendations. The Committee noted the following key conclusions from the investigation: \u25cf No Corruption Established: The investigation \u201chas not established any elements of corruption\u201d in the implementation of ESP loans for the four medium industry… <\/p>\n","protected":false},"author":1,"featured_media":53606,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-53603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/53603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53603"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/53603\/revisions"}],"predecessor-version":[{"id":53605,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/53603\/revisions\/53605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/53606"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}