Farmers in Gyobingauk to receive loans for over 40,000 acres of farmland

Over 5,800 local farmers in 52 village-tracts of Gyobingauk Township, Bago Region, will receive K100,000 per acre loan for their winter crop.
An official of Myanmar Agricultural Development Bank said, “We will provide the loans to the local farmers who have already repaied their loans in the last time. The loans will be disbursed starting from the second week of November to the end of January 2021, and the farmers will repay the loans on 15 September 2021. Those who failed to repay the loans during the deadline were given a warning, which could bring them to trial.”
Loans will be given for more than 40,000 acres at five per cent of interest.
MADB provides loans for farmers based on the three main planting seasons in the country — monsoon, pre-monsoon, and winter. Loans are being provided for a total of 22 kinds of crops. Loan applications can be obtained at the community-based loan screening groups and respective township branches of MADB. — Aye Maung (Translated by Hay Mar)

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