YANGON, July 22 (Xinhua) -- Myanmar's Livestock Breeding and Veterinary Department will provide low-interest loans to farmers in animal husbandry, including beef cattle, dairy cows, poultry, and goat and sheep farming, the official Global New Light of Myanmar reported on Monday.
The loans with a 2 percent annual interest rate aim to boost the livestock industry of the Southeast Asian country, and will be provided starting from August, the report said.
The loans totaling 12 billion kyats (3.69 million U.S. dollars) from the State Economic Promotion Fund will be disbursed to livestock farmers across nine regions and states, including the Nay Pyi Taw capital area, the report said.
The department has invited proposals from livestock farmers in these regions and states. Applicants can apply for loans through their township or district-level working committee, it said.
The loan's term is three years for dairy cow farmers and two years for the farmers of poultry, beef cattle, and sheep and goats, the report said.
In the previous financial year 2023-24 through March, the State Economic Promotion Fund provided 20 billion kyats (6.16 million U.S. dollars) in loans to farmers operating chicken, pig, and duck farms, said the report. ■
