MADB eases repayment period for farmers

NATIONAL NEWS

Myanma Agricultural Development Bank has announced that it extends the repayment period for agricultural loans for the farmers until 30 September.
The bank granted more than K200 billion in COVID-19 funds to over 5,500 farmers and extended the repayment period to 31 March and now to 30 September.
The loans were granted in 187 townships of Nay Pyi Taw and 14 regions/states. The current repayment period has been extended to 30 September, with the aim of allowing farmers to continue using the COVID-19 loan as agricultural capital to increase their income.
If the farmers can submit their detailed work processes, they can get up to a K70 million loan at low-interest rates. The payment terms are three years for short-term loans and 5 years for long-term loans at a five per cent interest rate. The loans for the farmers are supervised by the Ministry of Planning and Finance and the Department of Rural Development. — TWA/GNLM

Share this post
Hot News
Hot News
Rising transportation cost, increase in cattle price, being close to Thingyan lead to rise in beef price
Myanmar Letwei fighter Thant Zin to miss tonight’s One Championship event due to health emergency
Machine-made brick trade good despite slight decline in price
Bamboo growers on the rise as bamboo products rebound in local and foreign markets
Appointment of Head of Service Organization
59th Gems Emporium to feature pearls, gemstones, and jade sets
Lacquerware Technology College prepares multifaceted welcome for foreign visitors
Chairman of SSMNC receives Chinese Ambassador to Myanmar and party
Myanmar-Russian armed forces exchange honorary medals for further cementing strategic partnership relations, military and civilian technological cooperation
NSPNC meets representatives from seven NCA-signatory EAOs