Junta disburses over K740 million in agriculture, livestock and small-scale industries loans in Arakan State

By Admin 25 Oct 2023

DMG Newsroom
25 October 2023, Sittwe
 
Myanmar’s military regime said it has committed K742.5 million for the development of agriculture, livestock breeding and small-scale industries in Arakan State.
 
The Department of Cooperatives has disbursed over K742 million in loans — K268.9 million for the agricultural sector, K446.9 million for the livestock breeding sector and K26.8 million for small-scale industries — in Arakan State, the junta-controlled broadcaster MRTV said on October 24.
 
“The Arakan State Department of Cooperatives has disbursed loans amounting to more than K740 million from the national economic promotion fund to the three sectors of agriculture, livestock and small industry for the members of 31 associations,” said U Zaw Min Tun, director of the Arakan State Department of Cooperatives.
 
However, critics say the loans disbursed by the military regime only go to those close to them, not local farmers and breeders.
 
“By linking up with big businessmen who have guarantees, they often provide loans to big farmers linked to the military regime under their protection. [Average] farmers cannot get the junta’s loans. This is not practical,” said U Kyaw Zan, chairman of the Arakan Farmers’ Union.
 
Arakan State’s agriculture sector has suffered significant damages due to storms and floods.
 
“I don’t get loans from the junta. I want a junta loan because my paddy is going to be harvested. The military regime only gives loans to certain farmers, so I feel it’s unfair,” said U Maung Hnaung, a local farmer from Pyinyaung Village in Minbya Township.
 
“If we get a small loan from the military regime, it will be fine. It is not convenient for us to work after borrowing money from others. We have never received a loan from the junta,” said Ko Kyaw Naing, a poultry farmer from Tin Nyo Village in Mrauk-U Township.
 
Livestock entrepreneurs in Arakan State have had their businesses damaged by Cyclone Mocha in mid-May and are facing many challenges in getting back on track.
 
Many MSMEs in Arakan State are expecting loans from the military regime in order to continue their operations.
 
“The junta officials told us that loans were disbursed with priority given to the agriculture and livestock sectors. We also need a loan,” said U Myat Kyaw, an official of the Arakanese goods manufacturing business Oh Thu Gyi in Sittwe. Whether the military regime gives us a loan or not, we will continue our business operations.”