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Coordination Meeting: State Fund To Operate Agriculture And Livestock In The Region

17 August 2022
24716
2022-08-17 16:13

The State has permitted 5 billion kyats to Palaung Self-Administered Zone to operate the agriculture and livestock tasks for the State Economic Promotion.
A coordination meeting on the fund provided to the Palaung Self-Administered Zone was held at the region administrative body office in Namhsan township on Tuesday. On the occasion, Chairman of Palaung Self-Administered Zone Tar Thein Zaw said that the government provided 5 billion kyats for Palaung Self-Administered Zone by establishing the State Economic Promotion fund for revitalizing the state economy and socio-economic life of the people affected by COVID-19.
In sharing the fund, measures will be undertaken as the emerald project and the fund will be spent systematically by forming respective committees for the regional economic development. From the emerald fund, loans will be disbursed to villagers and cooperative societies and the interest will be collected once every 6-month.
The project will start 2022-2023 fiscal year and will be extended yearly until 2024-2025 financial year. In agriculture, the loan term for perennial crops including coffee, tea, and banana is 3 years and for seasonal crops, the loan term has been set for 1 year.
The regional development tasks can be conducted with the interest fund and the incomes of rural people will be increased through establishing fund. Departmental oficials reported on progress of works and asked about further information that they would like to know.

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