Under the (JICA) Japan International Cooperation Agency’s two-step loan scheme, a loan of over Ks30 billion have been disbursed to more than 800 farmers during more than one year, according to an economic talk on the JICA’s two-step loan scheme described in the State-owned newspaper.
Thet Thet Lwin, assistant manager of Myanma Agricultural Development Bank (headquarters) said at the talk: “It has been more than one year the project has launched. The bank has disbursed a loan of over Ks 30 billion to 814 farmers nationwide.”
Currently, the bank is granting loans to farmers in 43 townships for the purchase of 169 agricultural machineries.
Under the JICA’s two-step loan project, the bank will disburse a loan of around Ks180 billion (15 billion Japanese yen) with the 40-year repayment period including the ten-year suspension period.
Under the project, the bank will disburse a loan of up to Ks50 million to an individual and up to Ks 0.5 billion to a group. The bank will disburse loans to farmers in order that they can buy agricultural equipment and trucks. The bank will give more priority to the farmers who will buy agricultural equipment, Thet Thet Lwin added.
Even though the disbursement of about Ks180 billion for the development of farm sector and the rural region is huge in term of amount, the loans will go to only two per cent of farmers across the country, she continued.
