LBVD to disburse K12B loans to livestock farmers

The Livestock Breeding and Veterinary Department in Nay Pyi Taw will provide a K12 billion loan to those engaged in animal husbandry including beef cattle, dairy cow, poultry and goat and sheep farming.
Starting in August this year, K12 billion allotted from K22 billion of the State Economic Promotion Fund will be disbursed to those livestock farmers in nine regions and states, including Nay Pyi Taw. This loan with a low interest rate is aimed at enhancing livestock businesses.
The department has called for proposals from livestock farmers in the regions and states. Those farmers who own real property such as farm, building, plot of land with energy and water supply and can present assets or collateral exceeding the loan amount are eligible to receive the loan.
They can apply for a loan through the respective township-level or district-level working committees. The loan term is set for three years for dairy cow farmers and two years for poultry, beef cattle, sheep and goat. Annual interest is two per cent.
During the last financial year 2023-2024, the State Economic Promotion Fund provided K20 billion in loans to the farmers of operating farms of broiler, pig and duck. — TWA/KK