More than 800 farmers receive over MMK 30 billion loan support

Myanmar Agricultural Development Bank has disbursed over MMK 30 billion loan to 814 farmers during over one year under (JICA) Japan International Cooperation Agency’s two-step loan scheme. Daw Thet Thet Lwin, assistant manager of Myanmar Agricultural Development Bank (headquarters) mentioned that the bank is currently granting loans to farmers in 43 townships in order to purchase 169 agricultural machinery. Under the project, the bank has disbursed over MMK 30 billion loan to 814 farmers during over one year. Moreover, the bank will disburse a loan of around Ks180 billion (15 billion Japanese yen) with the 40-year repayment period including the ten-year suspension period and loan of up to MMK 50 million to an individual and up to MMK 0.5 billion to a group. The bank will give more priority to farmers who will buy agricultural machineries. Even though the amount of loan is huge, only 2% of loan will go to the farmers across the country.

Reference- elevenmyanmar