Ceremony for handing over machinery bought as two step loan held

Farming machinery bought with a JICA Two-Step Loan were handed over to farmers in Nay Pyi Taw yesterday.
The ceremony to hand over the machinery was held at the office of the Maternity and Child Care Association, LeweTownship in Nay Pyi Taw. U Maung Maung Win, Deputy Minister for Planning and Finance said the move will improve and increase the country’s agricultural sector.
“The two-step loan project is designed for farmers to borrow a considerable amount of money in the form of short-term and long-term loans so as to be able to invest in the tasks from preparation of land for growing to the stage of harvesting, winnowing, milling, packing and selling; to purchase agricultural farming equipments and to build up rice mills, oil mills and storehouses.” U Tin Htut, Nay Pyi Taw Council Member, made an address, followed by clarifications about the objectives and processes of the JICA Two-Step Loan from U Min Thu, director-general of Myanmar Agricultural Development Bank.
U Aye Maung Sein, Nay Pyi Taw Council member, U Tun Tun Naing, permanent secretary of the Ministry of Planning and Finance, Mr Sakai, Deputy In-Charge of JICA Myanmar Office handed over documents on the machinery bought by farmers. Deputy Minister U Maung Maung Win and responsible officials then inspected agricultural farming equipment.
The JICA Two-Step Loan was approved by the 2nd Pyidaungsu Hluttaw 3rd Regular Session. It was launched in Pyay Township as a pilot project in FY 2017-2018 and the project will be launched in the remaining Regions and States further. —MNA

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