Yenangyaung 7 May
With the aim of growing monsoon crops in time, Myanma Agricultural Development Bank (Yenangyaung Bank) will disburse monsoon agricultural loans to farmers in Yenangyaung Township, Magway Region, said Manager of Yenangyaung Branch Daw Thwe Thwe Ohn.
The bank will disburse agricultural loans for a total of 42925 acres of farmland including 150 acres of rice and 42775 acres of other crops at a rate of K 150,000 per acre of rice plantation and K 100,000 per acre of other crops.
This year, the interest rate of agricultural loans disbursed by Myanma Agricultural Development Bank will be reduced from 8 percent to 5 percent. In addition, about 100 farmers will be daily disbursed agricultural loans to prevent the spread of COVID-19 and to avoid the crowds of people, she added.
In previous year, the bank disbursed a total of K 4091 million for growing monsoon crops in Yenangyaung.
Ko Soe Gyi (IPRD)
Translated by Suyee
