News eDaily23 Oct 2017

Myanmar:Sompo Japan & state-owned insurer work on crop insurance

23 Oct 2017

Sompo Japan Insurance and government-run Myanmar Insurance are working to adopt a crop insurance system based on climatic conditions, Deputy Minister for Agriculture, Livestock and Irrigation Hla Kyaw told a parliamentary session of the Upper House.

The plan was revealed during the parliamentary session held last week after a member of parliament had asked whether the relevant committees and task forces would be implementing the provisions of the law for protection of farmers' rights and promotion of farmers' interests, reported Eleven Myanmar.

"Sompo Japan Insurance, Myanmar Agricultural Development Bank and Myanmar Insurance are drawing up a plan to adopt and implement a crop insurance system based on weather," said Hla Kyaw.

Due to natural disasters that happened in the fiscal year ended 31 March 2017, more than 438,000 acres of crop plantations in 10 states and regions were destroyed.


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