Kawlin, 7 July
The Myanmar Agricultural Development Bank (MADB) has begun disbursing monsoon agricultural loans to farmers in Kawlin Township, Sagaing Region since May 18.
The MADB so far gave out over K 1839 million of monsoon agricultural loans for 12,205 acres of paddy owned by 2,097 local farmers. The State-owned bank doled out more than K 390 million to 359 farmers from two village-tracts for their 2,603 acres of paddy on July 6.
“I have seven acres of farmland and cultivate Kyaukse Ayeyarmin paddy specie. Per acre yield is about 70 baskets and hundred basket of paddy is sold for K 1.2 million. An estimated cost for seven acres of farmland is around K 1 million. I would like to express thanks to MADB for monsoon agricultural loans at a rate of K 150,000 per acre because the amount is enough sufficient and benefits us,” U Aung Win, a local farmer from Hse To Village said.
K 10,710 million has been earmarked for disbursing monsoon agricultural loans for 71,400 acres of farmland belonging to 11,250 farmers from 49 village-tracts in the township.
Myint Tun Min (Kawlin)
Translated by Kyaw Htike Soe
