Loan Project: 34th Meeting of Steering Committee

During the 34th Meeting of the Steering Committee for Two-Step Loan Project for Agriculture and Rural Development, Deputy Minister for Finance and Revenue Daw Than Than Lin stated that under the Project loans are currently being disbursed at a low interest rate with installment repayment options: short-term (3 years) and long-term (5 years).

The Deputy Minister emphasized the ongoing need for responsible officials to strive continuously and systematically review and disburse loans with full accountability and responsibility to eligible farmer applicants, ensuring the funds are provided in time for the planting and harvesting seasons.

She stressed the importance of finding ways to prevent defaulted loan balances (arrears) from occurring. The Deputy Minister also urged companies that sell agricultural machinery under the loan scheme to cooperate in accordance with the prescribed terms and conditions. Following the Deputy Minister’s remarks, responsible officials presented and discussed the current status of the Two-Step Loan disbursement and future action plans.