MADB expands loans for 8 strong demand crops

MADB expands loans for 8 strong demand crops

Image result for beans and pulses plantationTHE Myanmar Agriculture Development Bank under the Ministry of Planning and Finance will give loans for the strong demand crops under eight categories in 2019-2020 FY, in addition to the existing 14 items of agricultural produce.

The new scheme will cover four beans (haricot bean, lablab bean, rice bean and green bean); two crops edible oil (flaxseeds and sunflower seeds), and two kitchen crops (onion and chili). The loans for these crops will be given commencing this winter at K 100,000 per acre like other crops.

To support the small-scaled farmers, the government increased to this amount from K20,000 per acre in 2017- 2018 FY and K50,000 per acre in 2018-2019 FY respectively, while the loan for paddy was increased to K150,000 per acre from K100,000 per acre in 2016-2017 FY.

Source: Global New Light of Myanmar

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