Arakan State businesses still waiting on loans pledged by junta chief 

By Admin 20 Apr 2023

DMG Newsroom
20 April 2023, Sittwe

Though junta boss Min Aung Hlaing last year promised K10 billion worth of loans from a national economic development fund for Arakan State business owners, more than four months later the loans have yet to be disbursed.

The loans are to be provided for micro, small and medium enterprises, as well as the agriculture, livestock and fisheries sectors, the regime chief said on Arakan State Day, December 15.

“They have not yet disbursed the loans. We are scheduled to meet the Arakan State chief minister by the end of April. We will ask about it then,” MSME Association Rakhine chairman Ko Nyi Toe Min told DMG.

Salt farmer U Kyaw Maung Than from Kyaukphyu Township said he has not yet received loans though the regime’s Arakan State Administration Council has promised to provide loans to salt farmers in Arakan State.

“The salt production season is ending in the next 20 days. However, they have postponed the loans again and again,” he said.

The chairman of the Arakan State Salt Producers Association and members are set to meet this week to discuss the loans, he added.

Arakan State Administration Council chairman U Hla Thein told DMG that the council has started to supply loans, but that there could be disbursement delays in some places.

“We are already handing out loans. We have also adopted a policy. But there are some procedural problems in some places. Only the concerned ministers will know details about the loans. Recently, they provided loans for fishery businesses in Sittwe’s Palin Pyin,” said U Hla Thein.

DMG was unable to obtain comment from resources minister U Than Tun of the Arakan State Administration Council because he said he was at a meeting.