State Economic Promotion fund: About 5.5 billion kyats provided to farmers in Kayin State

In Kayin State, about 5.5 billion kyats from 8 billion of national economic promotion funds have been already provided to the farmers in 5 townships and will continued to lend the remaining funds for the farmers. 

Saw Khin Maung Myint, Minister  of Economic Affair, Kayin State Government, said " Depending on the economic promotion funds received, the state-level project supervision committee, the supervision district committee and township development affairs committee are formed and conducted the field inspections. Then we were provided loan to the farmers as the first priority, who will actually work in cultivation.  Currently, we already provided loans in 5 townships. About 557,483,200 billion kyats of loans have been lend to the whole Kayin state and will continue to lend to the farmers who are actually engaged in agriculture and breeding sectors in villages. We mostly provided loans in the cultivation sectors and also provided to the breeding sector, rice mills and oil mills. For the factories extension, we will only provide loans for the raw materials if they can repaid within one year."

There will also be separate loans for MSMEs industry and the applications must be submit directly to the Chairman of the loan management committee of Director General of Union Ministry. The application form must be including the approval of the state government by the end of the January, it’s learnt.