Agriculture and Irrigation Ministry seeks approval for loans from Myanma Economic Bank, CBM

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Deputy Minister for Agriculture and Irrigation U Ohn Than on Tuesday explained agricultural loans for fiscal 2015-2016 at the Pyidaungsu Hluttaw session.
The ministry requested K 1,352.76 billion for agricultural loans to the union government and the leading committee for promotion and protection of farmers’ interests, and was allowed to take out loans for K800 billion from Myanma Economic Bank and K400 billion from the Central Bank of Myanmar, according to the deputy minister.
However, the central bank of Myanmar law and the law for promotion and protection of farmers’ interests require the government to seek approval of the Hluttaw for the central bank loan and the president asked the Hluttaw to approve the loan from the central bank.
Deputy Minister for Finance Dr Lin Aung also promised to issue agricultural loans in accordance with the central bank law.
The Hluttaw session also discussed the findings of the bill for rights of the disabled and the bill for the Myanmar account council.

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