SIDCO signs Loan agreement with NSTFDC to empower Scheduled Tribes in Ladakh.

SIDCO signs Loan agreement with NSTFDC to empower Scheduled Tribes in Ladakh.
New Delhi, December 23, 2024: In a significant step towards promoting employment and self-reliance among Scheduled Tribes in the Union Territory of Ladakh, the Sindhu Infrastructure Development Corporation (SIDCO) signed a General Loan Agreement (GLA) and a Government Revolving Guarantee worth ₹10.00 crore with the National Scheduled Tribe Finance and Development Corporation (NSTFDC), an enterprise under the Government of India.
The agreement was signed in the presence of Sh. T Roumuan Paite, IRS, Chairman-Cum-Managing Director of NSTFDC, and Sh. Bhupesh Chaudhary, IAS, Managing Director of SIDCO.
This landmark partnership aims to implement Employment Generation Schemes across Ladakh, providing interest-subsidized loans at concessional rates to empower Scheduled Tribe communities. The initiative is designed to transition individuals from being job seekers to becoming job creators, enabling them to become self-reliant and contributing members of society.
The agreement focuses on uplifting the socio-economic conditions of the targeted population by increasing their income through support in key sectors, including Transport, Tourism, Agriculture, Service Industry, and Education.
This collaboration underscores a shared commitment to fostering sustainable development and enhancing opportunities for the Scheduled Tribes in Ladakh. By addressing financial barriers and encouraging entrepreneurship, this initiative aims to unlock Ladakh communities’ potential while contributing to the region’s economic growth and prosperity.