Over 400 Bago farmers prosecuted for failure to repay loans

Myanmar Agricultural Development Bank (MADB) has announced that over 400 farmers from across 15 townships within Bago Region are currently facing prosecution for failing to repay agricultural loans issued to them with some due in 2012. Sixty-seven farmers are being prosecuted in Thegon township, 56 in Waw township and 47 in Thanatpin township. “The main […]

A 500 billion political land mine and Myanmar’s gaping budget

Growth retardation of the agricultural sector connects too many aspects of economy issues such as lack of investment, lack of industrialization, obstacles in producing and distribution of goods, high unemployment rates, etc. It is a high priority economic policy that the new government must endeavor to implement as the development of the agricultural sector directly […]

State bank lowers interest rates on loans to farmers to stimulate growth

State-owned Myanmar Agricultural Development Bank (MADB) – the largest small loan lender in the country – will lower interest rates on loans to farmers to stimulate growth next month, according to officials. The rate will drop from a current 8.5 percent to 5pc in June, MADB Mandalay Region manager Daw Khin Pyone Yi said. “We […]