The State Economic Promotion Fund Management Committee has planned to offer loans for rain-fed paddy and peanut for 1.068 million acres this year, according to its meeting held on 15 August.
Mung bean and summer paddy project for 2022-2023 financial year was implemented in Nay Pyi Taw Council Area, Sagaing Region, Bago Region, Magway Region, Mandalay Region, Yangon Region and Ayeyawady Region. The project spent total K174.18billlion and all loans were already paid off.
With loan repayment, rain-fed project for 2023-2024 financial year was implemented in Nay Pyi Taw Council Area, Kachin State, Mon State, Rakhine State and Shan State as well as Taninthayi Region, Bago Region, Magway Region, Yangon Region and Ayeyawady Region and spent K134.213 billion. Summer paddy project for 2023-2024 financial year was implemented in Nay Pyi Taw Council Area, Bago Region, Mandalay Region, Mandalay Region, Yangon Region and Ayeyawady Region and spent K147.897 billion.
Rain-fed paddy project for 2024-2025 fiscal year will be continued in Nay Pyi Taw, Kachin State, Bago Region, Magway Region, Mandalay Region, Mon State, Rakhine State, Yangon Region, Shan State and Ayeyawady Region for total 0.96 million acres.
Edible oil crop project for 2023-2024 fiscal year was carried out in nine regions and states by spending K48.60billion in dry season. With the committee’s fund, rain-fed peanut project for 2024-2025 will be conducted in Nay Pyi Taw, Bago Region, Magway Region, Mandalay Region, Shan State and Ayeyawady Region for 0.108 million acres.
TWA/ZS
