Ministry to Lift Ban on Livestock Export

The government has signalled its latest measure to boost the country’s agriculture and husbandry industries by offering loans to farms and lifting the ban on livestock export, according to the Ministry of Planning and Finance. At a meeting with Vice President U Myint Swe and businessmen on July 20, Union Minister for the Ministry of […]

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

Yoma Launches Agribusiness Finance Program with LIFT

​​ Farmers will have better access to funding under a new Yoma Bank scheme, and can use it to buy much-needed agricultural machinery. The bank announced the launch of its Agribusiness Finance Program (AFP) in Yangon on December 15. The new program cuts the down payment on a hire purchase agreement from 30 percent to […]

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 […]