Steering Comittee Meeting: Two Step Loan Project for agricultural and rural development

The 32nd meeting of the Steering Comittee for Agricultural and Rural Development Two StepLoan Projectwas held on Saturday. The project is being implemented by the Ministry of Planning and Finance and the Myanmar Agricultural Development Bank.

Chairman of the steering committee, Deputy Minister for Planning and Finance U Min Htut attended the meeting and made a speech.In his speech agricultural and rural development Two Step loan project which began in July 2017 has been providing loans for purchase of necessary machinery equipment required for agricultural operations.

As of 31 December 2024, over 247 billion kyats has been disbursed to more than 5,800 farmers across 187 townships in 14 regions and states including Nay Pyi Taw council area. In addition, over 5.4 billion kyats has been disbursed to 61 farmers from 19 districts and townships in 4 regions and states during 2024-2025 fiscal year. Efforts are being made to provide new loans to farmers and to increase the loan amounts.To ensure the success of  the Project, the Deputy Minister stressed the need to collaborate the regional and state government along with related department.

Additionally, companies involved in selling agricultural machines included in the project are also required to adhere the rules and regulations. The attendees discussed the condition of Two Stop Loan disbursement and future plans.