State Economic Promotion Fund: Management Committee held coordination meeting

State Economic Promotion Fund Management Committee held its coordination meeting in Nay Pyi Taw on Friday.

Union Minister for Planning and Finance U Win Shein said the financial regulations for the State Economic Promotion Fund have been released and it is needed to discuss for formation of Scrutinizing and Supervisory Committee for Loan Disbursement.

He also urged to coordinate with the remaining regions and states and Self-administration Division and Zones for loan disbursement in line with the regulations. He stressed the needs to strive for achieving improvement with the effective use of the fund.

For providing capitals for agriculture and livestock breeding works which could gain quick win benefits for the nation, 400 billion kyats separate fund was established from the balance of the national Disaster Management Fund.

230 billion kyats were provided to the Ministry of Agriculture, Livestock and Irrigation, 10 billion kyats each to Kayah, Chin and Rakhine State, 8 billion kyats each to Kachin, Kayin, Mon and Shan States and Taninthayi Region and 5 billion kyats each to six Self-Administered Division and Zones, altogether 330 billion kyats.