- The Myanmar Agricultural Development Bank (MADB) of the Ministry of Planning and Finance has provided annual agrarian loans to farmers throughout Myanmar since its inception in 1953. Farmers have also worked with the bank for many years to develop Myanmar’s agricultural sector by getting a new loan after repaying the old one on time after harvest.
- The government has extended the deadline for the 2020 monsoon loan to make it easier for farmers who have financial difficulties in repaying the loan due to the COVID-19 pandemic. Instead of 15 April 2021, the deadline has been extended to 31 July 2021.
- At present, the Myanmar Agricultural Development Bank in each region/state, district and township will provide 2021 monsoon agrarian loans to farmers from 26-5-2021 to 30-9-2021. It is announced for farmers to contact respective branches of the Myanmar Agricultural Development Bank in townships and districts concerned as soonas possible in order to pay off old loans and get new loans for the 2021 monsoon season.
Myanmar Agricultural Development Bank
Source: The Global New Light of Myanmar