MADB to provide K6 bln loans to agriculture and livestock farmers in Mandalay region

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The Myanma Economic Bank (MEB) provides the loan to local farmers from 23 townships in Mandalay region annually, through MADB.  Photo: Than Zaw Min (IPRD)

Myanmar Agricultural Development Bank (MADB) in Mandalay Region will provide K6 billion loans to agricultural and livestock farmers in Mandalay Region under MEB two-step loan programme, according to a statement of MADB in Mandalay Region. Now, the loans are being delivered through MADB in Mandalay Region. So far, about K417.16 million loans have been provided to the local farmers and breeders.
The Myanma Economic Bank (MEB)’s loan programme provides loans to the farmers from 23 townships in Mandalay region based on agricultural and livestock businesses if they could show substantial document and assurance. Currently, the bank has already allocated K417.16 million to 50 farmers. The bank provided the loans to enable the farmers to buy the agricultural machines and set up other businesses as well, said Daw Yin Nwe, the regional manager of MADB in Mandalay.
She also added that the local farmers received the loans from MEB through our MADB for buying the agricultural machines. People can also apply for the loans to set up other businesses under this loan programme. We are providing loans for the benefit of the farmers in some way. The loan period is arranged from a minimum of three years to a maximum of five years. However, the agricultural and livestock farmers need to apply for the loans with the presentation of the strong evidence.
The MEB provides the loan to the local farmers from 23 townships in Mandalay Region annually. Those 23 townships are Chanayethazan, Amarapura, Patheingyi, PyinOoLwin, Madaya, Singu, Thabeikkyin, Singaing, Tada-U, Myittha, Kyaukse, Meiktila, Thazi, Wundwin, Mahlaing, Yamethin, Pyawbwe, Myingyan, Natogyi, Taungtha, Ngazun, Nyaung-U and Kyaukpadaung townships.—Than Zaw Min (IPRD) (Translated by Hay Mar)

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