Extending winter crop loans in Mandalay Region until January’s end

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The file photo shows the Myanmar Agricultural Development Bank issuing loans for the cost of cultivation to some farmers in Myittha Township.

Myanmar Agricultural Development Bank Branch has announced that winter crop cultivation loans for farmers in the Mandalay Region will be extended by one month until the end of January 2024.
Over K4.2 billion have been earmarked for loaning winter crops for more than 40,000 acres, and it is set to be issued from the second week of October to the end of December 2023. Due to the farmers’ transportation difficulties, the loan period is planned to be extended by one month until the end of January 2024.
Winter crop cultivation loans are available at K150,000 per acre for rice and K100,000 per acre for groundnuts, green beans, sesame, cotton, chickpeas, soybeans, beans and maise. Loans of K1,450.8 million have been given to 3,268 farmers for 14,165 acres in 12 townships in Mandalay Region. — TWA/KZL

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