Ngape 2 September

Ngape Township Myanma Agricultural Developmental Bank dispensed monsoon agri loans and COVID-19 Special Relief Loan to farmers in Ngape Township, Minbu District, Magway Region starting from 23 June. The disbursement of monsoon agri loans and COVID-19 Special Relief Loan has been completed on 27 August.

A total of 2821 farmers from 23 village-tracts in Ngape Township were disbursed K 1493.550 million for 12191 acres of their farmland. The bank distributed the agri loans at a rate of K 150,000 per acre of paddy field and K 50,000 per acre of other crops. 

In addition, the bank also disbursed K 581.1 million of COVID-19 Special Relief Loan to a total of 2656 farmers from 23 village-tracts for 11622 acres of farmland at a rate of K 50,000 per acre.

The original form of land use certificate-7 has been kept by the bank as a loan guarantee and the bank will return the original form to the farmland owners when the owners have paid all the debt, interest and penalty fee. 

Ma Yu (Ngape)
Translated by Suyee