Myanma Agricultural Development Bank will disburse loans to farmers to buy farm equipment and trucks to be used in their agricultural work and priority will be given towards purchase of farm equipment, said Thet Thet Lwin, assistant manager of MADB (Headquarters).

"The loans will be for investment in businesses based on agriculture. Farmers can get loans to build rice mills, oil mills, foodstuff factories, factories and warehouses as well as trucks and cargo trucks. At present, we will not giving loans for purchase of trucks. After loans have been disbursed to a certain degree for farm machinery, we will loan more for trucks. It will be a third priority," said Thet Thet Lwin.

The assistant manager revealed the information during a talk on national economy related to the two-step loan from Japan International Cooperation Agency, the state-run newspapers reported on October 18.

Farmers will receive loans equivalent to 25 percent of the value of a piece of farm equipment or a truck.

"If a machine worth K30 million is to be bought, a maximum of 7.5 million will be received as working capital," she added.