SEPF-backed K4B+ loans distributed to oil millers

Myanmar Edible Oil Mills Development Loan Management Task Force stated that K4.193 billion in loans allocated from the State Economic Promotion Fund have been disbursed to oil millers recently.
The Myanmar Edible Oil Mills Development Loan Management Task Force’s meeting 3/2024-2025, led by Deputy Minister U Min Htut for Planning and Finance, who also acts as the task force chairperson, was also held on 7 November at the Union Minister’s office building.
The deputy minister said that K4.193 billion of loans had been paid out to 34 oil millers from nine regions and states, including Nay Pyi Taw Council Area, through two participating financial institutions (Myanma Economic Bank and Myanma Agricultural Development Bank) since July 2023.
He also welcomed ideas and suggestions from attendees regarding the participation of private authorized dealers (private banks) rather than the existing two participating financial institutions and raising loan amounts.
Afterwards, MADB Managing Director U Min Thu, in his capacity as the task force secretary, elaborated on the discussion with the Myanmar Banks Association regarding the involvement of private banks in extending loan services and discussions with related members of the task force to offer more significant amounts and plans for the future. — NN/KK