MADB expands loans for 8 strong demand crops
THE 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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