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 […]

MADB suffers loses of over K700 million in Tanintharyi Region

  Myanmar Agricultural Development Bank (MADB) for Tanintharyi Region has made public losses incurred during the previous 2015-16 fiscal year in the form of K737.26 million in non-performing loans. “We’ve never experienced such losses in the last 62 years. The last fiscal year was the first time we’ve suffered a loss. The main factor behind […]

The Burma road

Spend a day in Yangon, shuttling among new high-rises and bars before retreating to your boutique hotel, and you can almost believe that after decades of isolation, Myanmar is squarely on the road to prosperity. Spend more than a few days, however, and the cracks start showing: intermittent power cuts, ancient sewage systems, insufficient housing […]

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 […]