Monsoon agricultural loans are being disbursed to farmers in Kyauktaw Township, Arakan State and the disbursement period will be by the end of this month, according to a source from the Ministry of Planning and Finance.
Farmers in Kyauktaw Township experienced some difficulties since almost all ward and village-tract administrators resigned from their posts in the first week of July.
The Myanmar Agricultural Development Bank dispenses monsoon agricultural loans to farmers only if farmers are recommended by respective ward and village-tract administrators.
However, the MADB temporarily suspended disbursement of monsoon agricultural loans to farmers because some ward and village-tract administrators resigned from their posts. Farmers demanded agricultural loans for monsoon paddy from the local officials.
In order to solve this problem, the MADB is doling out agricultural loans to farmers who are endorsed by the village elders instead of the ward and village administrators under the aegis of the township administrator, said Deputy Minister for Planning and Finance U Maung Maung Win.
“I instructed local authorities to promptly disburse agricultural loans to farmers in accordance with the decision made by the township advisory committee,” the Deputy Minister said.
MMK 8,356.5 million of monsoon agricultural loans has been allocated for farmers in Kyauktaw Township. So far monsoon agricultural loans have already been disbursed to more than 8,000 farmers from 80 village-tracts.
