MYANMA Agricultural Development Bank (MADB) notified that it has started to pay out monsoon agricultural loans to farmers this year.
MADB, under the Ministry of Planning and Finance, yearly provides agricultural loans to farmers across the country. Farmers have already cleared previous loans before the monsoon cultivation season.
Only when they paid off the debts could they take out new loans for the next growing season. MADB offers both short-term and long-term loans in line with rules and regulations.
Starting from 19 May, the respective bank branches have disbursed loans to those farmers who have paid debts and interest. The interest per annum is set unchanged at five per cent this year as well.
Those who want to get access to 2025 agricultural loans need to contact the MADB branches in the respective townships at the earliest. — NN/KK
