Myanmar to receive agriculture loan from World Bank

A senior government official has revealed that Myanmar will receive a loan of US$200 million (K277 billion) from the World Bank.

Deputy Minister of Agriculture, Livestock and Irrigation U Hla Kyaw said during the sitting of the Pyidaungsu Hluttaw (Assembly of the Union) on May 26 that the loan will be used to boost food security food and agricultural in Myanmar.

Among the areas that the deputy minister highlighted will benefit from the loan are developing better agricultural produce, boosting competitiveness, livestock care, financial aid for farmers affected by the COVID-19 pandemic, rural nutrition drives, and job creation through the improvement of rural irrigation systems.

“Through the projects, we mainly intend to overcome the crisis in the agricultural sector brought about by the pandemic, provide the poor with food, and generally improve agriculture in Myanmar,” U Hla Kyaw

He said the projects funded with the loan will be carried out in 228 townships – 38 in Yangon Region, 31 in Shan State, 29 in Mandalay, over 20 in Bago and Magwe, two in Tanintharyi, five in Kayah, seven each in Kayin and Nay Pyi Taw, eight each in Chin, Mon and Rakhine, and nine in Kachin.

Feasibility studies for the projects were conducted from July to December 2019, and once again in March and May this year. – Translated

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Source : Myanmar Times

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