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February 28, 2020

State-owned agricultural bank to increase loans to rice farmers

Farmers grow rice in Nay Pyi Taw. Photo: Tun Tun Win
Farmers grow rice in Nay Pyi Taw. Photo: Tun Tun Win

THE Myanmar Agricultural Development Bank has announced plans to increase the availability of agricultural loans to rice farmers as part of its concerted efforts to assist the country’s rice production, said Union Minister for Agriculture and Irrigation U Myint Hlaing yesterday.
The Union minister announced and spoke about the plan at a meeting with farmers
gathering at a pollination event held at a 100-acre field for the production of rice seeds in Dekkhinathiri Township yesterday.
The Myanmar Agricultural Development Bank delivers K100,000 per acre to rice farmers, an increase from the previous K50,000 that was offered in 2012.
The bank at this time has a nationwide network comprising 14 regional offices, 169 branches and 44 agency offices with 3,357 staff providing short term and long term credit to over 2 million farmers.


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