Shwebo 30 July

The Myanmar Agricultural Development Bank (MADB) has embarked on disbursing monsoon agricultural loans to farmers in Shwebo Township, Sagaing Region since 6 May and has earmarked for dispensing Ks. 1.2 billion to 15,000 farmers from 72 village-tracts.

The MADB has given out Ks. 7135.75 million to 8,354 farmers from 46 village-tracts in the township so far. The remaining agricultural loans will be doled out to farmers by the end of August.  In addition, the Japan International Cooperation Agency (JICA) has already disbursed Ks. 5 billion for purchasing four tractors and eight combined harvesters.  The MADB dispensed agricultural loans to the farmers at the rate of Ks. 150,000 for per acre of paddy and Ks. 100,000 for per acre of other crops. There are over 7000 acres of paddy and 20000 acres of other crops in the township. 

The State-owned bank has yet to collect Ks. 1105.75 million of monsoon agricultural loans for 2018 from the farmers throughout the township, said U Khin Maung Lwin, Manager of the MADB’s branch.—Moe Thauk
Translated by Kyaw Htike Soe