December 13, 2017

Ks1.6 billion agricultural loans disbursed to cooperative syndicates in Meiktila

Women transplant seedlings into a rice paddy field in Meiktila. Photo: Supplied

THE Cooperative Department in Meiktila Township under the Ministry of Agriculture, Livestock and Irrigation started disbursing Ks1.680 billion agricultural loans to cooperative syndicates in 158 villages beginning this month for the purpose of cultivating monsoon crops.
An official from the Cooperative Department said these Ks1.680 billion loans from China Export Import Bank mainly go to local farmers at a current interest rate of Ks1.50 per month.
The cooperative syndicate can officially take out Ks0.2427 from Ks1.50 for funds for development of suitable kinds of businesses for its members in the future.
The cooperative department plays a vital role in improving socioeconomic status of rural people as well as grassroots in urban areas by lending money to the target community. —Thein Myint Kyaw (Meikitila)

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