Over K105-billion JICA two-step loans provided to regions, states in two years

Over K105-billion JICA two-step loans provided to regions, states in two years
Published 28 August 2019
Nilar

Over K105 billion in JICA (Japan International Cooperation Agency) two-step loans were provided as agricultural and rural development loans to various regions and states in two years from July 21, 2017 to July 2019, according to Myanma Agricultural Development Bank. 

Among those regions and states, Ayeyawady Region received nearly K28 billion, the largest loan. Bago Region received K24 billion, Shan State over K10 billion, Yangon Region K5.5 billion, Rakhine State over K50 million, Mon State K4.1 billion, Mandalay Region over K13.8 billion, Magway Region K2.2 billion, Taninthayi Region over K1.7 billion, Sagaing Region K9.2 billion, Kayin State over K239 million, Kayah State K2.6 billion, Kachin State K1.787 billion, and Nay Pyi Taw K2.56 billion. 

In coordination with Myanma Economic Bank, MADB started providing loans for farmers and businesses agriculture and livestock in April 2018. 

There are sh based onort- and long-term loans. Short-term loans last three years in which a maximum of K50 million can be loaned. Long-term loans last five years in which a maximum of K500 million can be loaned. 

Till April 2019, more than K6.326 billion in agricultural and livestock loans were provided to 680 those engaging in farming from 96 townships.