Myanmar Rice Federation reserves 50 mln kyat financial support for flood-torn farmers
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NP News – Oct 19
It is reported that the Myanmar Rice Federation (MRF) earmarks 50 million kyat as the financial reserve to aid the farmers whose paddy fields were damaged in recent Bago flood, according to the MRF.
The decision was made during the joint business coordination meeting held between the MRF’s central executive committee, executive committee and member companies.
The meeting also covered the matters related to domestic and international rice market; warehouse registration; loan programs with insurance systems; to return export earnings; and for ensuring selling rice with reasonable price.
In addition, programs for short-term financial support for rice purchasing; and to provide full financial support in crop growing season for improving agricultural productivity of farmers who own more than 10 acres were also discussed.
The Bago Region Government announced that a total of 75,000 acres of paddy fields were ruined in the recent Bago flood.