August 19, 2016

Agricultural loans in Sagaing reach K6.56 billion

As of 30 September, the Bank of Agriculture Development has lent K6.568 billion (US$5.1 million) to more than 10,000 farmers in Kawlin township, Sagaing Region during the rainy season.
The loan process extends from 11 June to 30 September but it had been temporarily suspended due to widespread flooding in Myanmar. Since 3 August, the bank had been lending K100,000 per acre with affordable interest rates.
The estimated loan amount is K7 billion for the 2015-16 financial year in Kawlin, though only K6.568 billion has been lent to farmers as yet, according to Kawlin Agriculture Development Bank manager Daw Cho Cho Thin.


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