THE Oil Mills Development Loan Management Task Force is providing low-interest loans to oil millers for working capital and fixed capital to expand, upgrade, and develop necessary equipment and new mills, allocated from the State Economic Development Fund.
Those oil millers who meet the following conditions; owning operational mill, having valid licence, presenting immovable property with ownership and land use certificate Form 7 as collateral, providing separate collateral for the loans if the owner has already borrowed from private and public banks, holders of FDA certificates, small industrial enterprise registration certificates. Members of the Myanmar Edible Oil Millers’ Association and the Myanmar Edible Oil Dealers’ Association will be prioritized as well.
Loan amounts are set at K10 to K500 million for working capital and K20 to K500 million for fixed capital investment. Those who wish to borrow more than K500 million must apply directly at the Secretary’s Office of Oil Mills Development Loan Management Task Force, Myanma Agricultural Development Bank (Head Office). Repayment periods are one year for working capital loans and three years in three instalments for fixed capital loans with an annual interest rate of five per cent.
Oil millers can apply for a loan at the respective offices of Myanmar Edible Oil Millers’ Association, Myanmar Edible Oil Dealers’ Association, the Directorate of Industrial Supervision and Inspection and branches of Myanma Economic Bank and Myanma Agricultural Development Bank
The application can be downloaded from the websites of the Ministry of Planning and Finance, www.mopf.gov.mm, the Directorate of Industrial Supervision and Inspection https:// msmewebportal.gov.mm/, the Myanmar Edible Oil Millers’ Association http://www.meoma.org, the Myanmar Edible Oil Dealers’ Association http://meoda.myanmarwebtraining.com, Myanma Economic Bank www.meb.gov. mm, and Myanma Agricultural Development Bank www.madb. gov.mm. — NN/KK
