Pwintbyu 29 July

            Myanma Agricultural Developmental Bank in Pwintbyu Township, Magway Region is disbursing monsoon agricultural loans to farmers in the township. Up to 29 July, the bank has disbursed over K 2670 million of agricultural loans to the farmers, according to the bank.

First, the Bank Manager clarified the guidelines to be followed by the farmers who want to receive agricultural loans. It disburses the agricultural loans at a rate of K 150,000 per acre for cultivation of paddy and K 100,000 per acre for cultivation of other crops. A total of 3624 farmers from 28 village-tracts have received K 2674.5 million of agricultural loans for cultivation of 1578 acres of monsoon paddy and 378 acres of sesame.

            In the township, there are 51 village-tracts to be disbursed monsoon agricultural loans and of which, the farmers who have totally paid back their previous debt have been disbursed monsoon agricultural loans starting from 20 May. The remaining farmers will be distributed agricultural loans by the end of September, according to the bank manager.

Hlaing Win Lay (Pwintbyu Myay)

Translated by Suyee