Mandalay 6 February

The Myanmar Agricultural Development Bank has disbursed over K 1,700 million of loans for winter crops farmers in Mandalay Region, according to Myanmar Agricultural Development Bank in the region.

The loans were disbursed from 26 October 2018 to the end of January 2019 and the farmers will repay the loans on January 2020.

“In Mandalay Region, most of the farmers could repay their loans, meeting the deadline because it is the funds of the government” said U Su, manager of the Myanmar Agricultural Development Bank.

Those who failed to repay the loans during the deadline were given a warning, which could bring them to trial.

This year a total of over K 1,760 million is allocated to be disbursed but the actual disbursed percentage is 96.61 percent. Agricultural loan for one acre of paddy field is K 150,000 and for one acre of other crops is K 100,000 with eight percent of interest.
Ei Moh Moh Khaing
Translated by Suyee