Arakan State business owners voice doubts over junta’s promised post-cyclone loans

By Admin 25 Aug 2023

DMG Newsroom
25 August 2023, Sittwe

Myanmar’s military regime has been silent on the provision of loans to fisheries and livestock businesses in Arakan State affected by Cyclone Mocha, according to business owners.

They have yet to receive any loans some two months after the regime promised loans to revitalise the storm-hit fisheries and livestock sectors.

“We haven’t heard anything about loans. I doubt we will be given loans,” said prawn farmer U Kyaw Thaung from Ponnagyun Township. “Perhaps many business owners have applied for loans, and they [the regime] is still determining the amount of the loans.”

Many fisheries and livestock businesses still can’t resume operations as normal because business owners have faced financial constraints to repair equipment damaged by Cyclone Mocha, which hit Arakan State with destructive force on May 14.

Junta deputy prime minister Tin Aung San promised loans when junta ministers, the junta-appointed Arakan State chief minister and fisheries and livestock business owners met in Sittwe on June 20.

DMG phone calls to Arakan State military council spokesman U Hla Thein went unanswered. When asked by DMG, Arakan State Fisheries Department acting director U Aung Tin Saw said: “The Union [government] has not yet granted a budget to provide loans.”

Multiple business owners told DMG that given the lack of follow-through by the regime to date, they doubt that they will ever receive the promised loans.

“It was just a hollow promise. They should have already provided loans if they really want our businesses to develop,” said a fishery business owner from Pauktaw who asked for anonymity, fearing reprisals.

The majority of residents engage in the fisheries industry for their livelihoods in Arakan State. They are facing serious rehabilitation challenges as many businesses were severely affected by the storm.