Agricultural loans

A JICA two-step loan amounting to Kyats 200 billion was acquired to support farmers and help them have better access to finance during a transformation process towards mechanized farming, and Kyats 30 billion worth of loans have been extended to farmers so far. The Myanmar Economic Bank also plans to extend loans amounting to Kyats 200 billion for agriculture and livestock farming businesses.

Agriculture loans extended by the Myanmar Agricultural Development Bank have increased from Kyats 100,000 to Kyats 150,000 per acre for paddy farming. Loans extended for other crops have increased from Kyats 20,000 to Kyats 50,000 per acre and it is planned to further increase up to Kyats 100,000 per acre.

(Excerpt from the report on the current work of the Union Government, delivered at the Pyidaungsu Hluttaw on 19 September 2018)

Ref; The Global New Light of Myanmar