MADB provides monsoon agricultural loans for 2021 in Lemyethna

Myanmar Agricultural Development Bank (MADB) provided monsoon agricultural loans for 2021 to the farmers in Lemyethna township, Hinthada district, Ayeyawady Region.
MADB loans amounting to K27.9 million for 186 acres of paddy field to 32 farmers from Wah Taw Kwin village on 14 June 2021.
Monsoon agrarian loans were disbursed to farmers following the COVID-19 rules and regulations. The loans were provided to the farmers in order to purchase the agricultural inputs in a timely manner and carry out agricultural activities in time.
The MADB in Lemyethna township provided loans amounting to K1.981 million as monsoon agricultural loans to 184 farmers from 15 village- tracts for 1,321 acres of farmland beginning from 1 June 2021.
The bank grants K150,000 agrarian loans per acre of monsoon paddy. The loans for the rice growers increased from K100,000 to K150,000 in 2016. The farmers who have repaid payable loans will be entitled to receive the loans. The monsoon agricultural loans will be provided to the farmers from the remaining villages within the stipulated period, said an official from township MADB.
According to the Farmland Management and Statistics Department, Myanmar grows about 17.9 million acres of paddy yearly and produces about 25.6 million tonnes of paddy. — Kyaw Hein (IPRD)/GNLM