Mudon, 18 June

The Mudon Township branch of the Myanmar Agricultural Development Bank in Mon State has disbursed over K 531.3 million in monsoon agricultural loans to support local rain-fed rice cultivation, according to the branch office.

Prior to the disbursement, U Yin Htay, Manager of the Township Bank Branch, briefed farmers on loan interest rates and the rules and regulations to be followed during the loan period.

So far, loans totaling K 531.3 million have been provided to 485 farmers across 15 village tracts, covering 3,532 acres of farmland.

The bank has set a target to disburse a total of K 3,169.2 million to 2,761 farmers from 42 village tracts, covering 21,128 acres. Loans to the remaining village tracts will be issued on scheduled dates, depending on the repayment status of previous loans, the bank manager added.— Yama Nya (IPRD)

Translated by JT