Over K3.2 bln earmarked for loans to farmers in Chin State in financial year 2024-25

Tongzang 3sm
A distance aerial view of Tonzang Township, Chin State.

According to the Ministry of Cooperatives and Rural Development, more than K3.2 billion loan will be disbursed to farmers in Chin State through the State economic promotion fund in the financial year 2024-25.

With the State economic promotion fund, K1.2 billion loans will be provided to farmers for purchase of inputs to cultivate konjac, corn, and avocados, K500 million for breeding pig and mythun, and K300 million for production of wine, coffee, and dried mythun beef.

Similarly, K100 million will be earmarked for the fish farming activities to be carried out in Tonzang Township and K1,153.235 million for the production of value-added dried konjac in Haka Township.

The loans are verified by the relevant village committees based on the needs of the farmers, submitted to the township, district, state and region etc., and the committees are formed to verify the loans, to ensure the effective cultivation and breeding businesses, especially to support the food security in Chin State without losing loans.

According to the Chin State Cooperative Department, K10 billion has been allocated to Chin State from the State Economic Promotion Fund, and more than K1.7 billion has been spent this financial year.—TWA/TKO

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