MADB to cover 43,000 acres of monsoon paddy in Kayin State with K6.5 bln loan

Myanma Agricultural Development Bank (MADB) of the Ministry of Planning and Finance has projected to provide K6.5 billion worth of agricultural loans for the coming monsoon season in Kayin State. It will cover 43,000 acres of monsoon paddy.
The MADB branches will disburse farmers’ loans for the monsoon season by paying out K150,000 per acre. The growers can take out loans for a maximum of ten acres. The loan maturity date is 15 April 2022.
Those farmers who have already paid off the previous loan will be prioritized in the loan application process.
The MADB provides annual agrarian loans to the small-scale farmers in order to have food self-sufficiency and export competitiveness for Myanmar’s agricultural products, boost exports, promote interests of the farmers, and enhance their socio-economy, Manager U Thein Zaw of the Kayin State MADB (Hpa-an Branch) said. — IPRD/GNLM