- Under the direction of the State Administration Council, the Oil Mills Development Loan Management Task Force is providing low-interest loans for working capital and fixed capital to expand, upgrade, and develop necessary equipment and new mills. The loans are sourced from the State Economic Development Fund.
- Any oil miller may apply for the loans if they meet the following prerequisites: (a) Operational mill. (b) Valid licence. (c) Form 7 for engaging in activities on farmland. (d) Separate collateral for the loans if the owner has already borrowed from private and public banks. (e) Holders of FDA certificates, small industrial enterprise registration certificates, and members of the Myanmar Edible Oil Millers’ Association and the Myanmar Edible Oil Dealers’ Association will be prioritized.
- Rules and regulations for the loans: (a)Loan amounts: (i) From K10 million to K300 million for working capital. (ii) From K20 million to K300 million for fixed capital investment. (iii) Anyone wishing to borrow more than K300 million must apply directly at the Secretary’s Office, Oil Mills Development Loan Management Task Force, Myanma Agricultural Development Bank (Head Office). (b) Repayment periods: (i) One year for working capital loans. (ii) Three years in three instalments for fixed capital loans. (iii) Yearly interest rate of five per cent.
- Oil millers may apply for loans at all branches of the following organizations: - (a) Myanmar Edible Oil Millers’ Association. (b) Myanmar Edible Oil Dealers’ Association. (c) Directorate of Industrial Supervision and Inspection. (d) Myanma Economic Bank. (e) Myanma Agricultural Development Bank.
- Application forms are available for download on the websites of the Ministry of Planning and Finance (www.mopf.gov.mm), Directorate of Industrial Supervision and Inspection (https:// msmewebportal.gov.mm), Myanmar Edible Oil Millers’ Association (http://www.meoma.org), 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).
Oil Mills Development Loan Management Task Force
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