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.
The mung bean and summer paddy project for the 2022-2023 financial year was implemented in Nay Pyi Taw Council Area, Sagaing, Bago, Magway, Mandalay, Yangon and Ayeyawady regions. The project spent a total of K174.18 billion, and all loans had already been paid off.
With loan repayment, the rain-fed project for the 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. The summer paddy project for the 2023-2024 financial year was carried out in Nay Pyi Taw Council Area, Bago Region, Mandalay Region, Mandalay Region, Yangon Region and Ayeyawady Region and spent K147.897 billion.
The rain-fed paddy project for the 2024-2025 financial year will continue in Nay Pyi Taw, Kachin State, Bago Region, Magway Region, Mandalay Region, Mon State, Rakhine State, Yangon Region, Shan State and Ayeyawady Region for a total of 0.96 million acres.
The edible oil crop project for the 2023-2024 financial year was undertaken in nine regions and states by spending K48.60 billion in the dry season. With the committee’s fund, the 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
