Junta pledges low-interest loans for storm-hit fisheries and livestock sectors

By Admin 22 Jun 2023

DMG Newsroom
22 June 2023, Sittwe

Myanmar’s military regime has promised to assist with the rehabilitation of storm-hit fisheries and livestock businesses, according to businessmen.

A coterie of junta ministers including the Arakan State chief minister met local fisheries and livestock business owners in Sittwe on Tuesday.

Union minister for transport General Tin Aung San was quoted by junta media as promising to help repair fishing boats and nets as quickly as possible, and supply new ones for those who have lost fishing equipment due to Cyclone Mocha.

At the meeting, prawn, crab and fish breeders as well as breeders of cows, chickens and goats reported about their financial losses.

“Businessmen called for providing no-interest or low-interest loans. Junta officials told departments to provide low-interest loans,” said a livestock breeder who attended the meeting.

It was not immediately clear, however, how much the regime intends to provide in loans for fishery and livestock business owners.

“We are yet to resume our businesses. We have not yet been able to repair the damages. We still can’t afford to buy new boats and fishing nets. I am glad that loans will be provided to us. It would be best if we can get it soonest,” said fisherwoman Daw Khin Khin Thein from Thae Khon Village in Pauktaw Township.

The fishing industry in Myebon and Pauktaw townships were hit hard by the storm, and many had their boats and fishing nets damaged by the storm.

“Some boats were damaged in my village. They can’t repair their boats, and they have been forced to work on others’ boats to support their families. It would be good if the regime provides loans for them,” said U San Thein, the administrator of Shintaw Village in Myebon Township.

Because Arakan State is a coastal region, many residents rely on fishing for their livelihoods.