Fund Management: Deputy Prime Minister presides over meeting 2/2023

The State Economic Promotion Fund Management Committee held the meeting 2/2023 on Friday at the Ministry of Planning and Finance.

In this meeting, Chairman of the Committee Deputy Prime Minister Union Minister U Win Shein highlighted that from the 400 billion Kyats of the State Economic Promotion Fund, 230 billion Kyats were provided to the Ministry of Agriculture, Livestock and Irrigation, 10 billion Kyats each to Kayah State, Chin State and Rakhine State, 8 billion Kyats each to Kachin State, Kayin State, Tanintharyi Region, Mon State and Shan State and 5 billion Kyats each to self-administered zones and divisions.

Concerned officials have been inspecting the enterprises running with this State Economic Promotion Fund. Now, out of the balance of the State Economic Promotion Fund of 70 billion kyats, 50 billion kyats have been set aside for the establishment of oil industry development loan funds and 20 billion kyats for livestock sector.

Works are underway to find ways to increase funding for businesses that need additional loans. Relevant officials should issue the funds in accordance with the procedure and to strictly carry out the re-collection.

And, members of the Committee union ministers U Min Naung, U Hla Moe, Dr. Charlie Than and U Aung NaingOo as well as deputy ministers and many other officials made discussions on findings and requirements according to relevant sectors.