These farmers took out the loans from 2013 to 2016 and they have not paid them back yet.

“This is up to 2016 winter loan. Six types of bank loans have been given. There are 12 townships left. The number of farmers is over 1,400. The remaining bank loan debt is around Ks 520 million. We will sue them,” said U Aye Thein, state manager of the MADB’s Rakhine State branch.

The bank has used various ways to persuade the farmers to pay back the loans but they were unable to get them back so the township loan advisory group has instructed the bank staff to sue the farmers that fail to pay back the loans.

Three farmers in Sittwe Township have not paid back Ks 3.175 million.

Nine people have a debt of Ks 4.44 million, 22 people in Kyauktaw Township have a debt of Ks 18.65 million and 12 people from Minbya Township have a debt of Ks 12.5 million in Mrauk U District.

A total of 639 people from Kyaukpyu Township have a debt of Ks 153.72 million, 15 people from Ann Township have a debt of Ks 6.38 million, and nine people from Myebon Township have a debt of Ks 11.571 million in Kyaukpyu District.

A total of 187 people from Maungdaw Township have a debt of Ks 59.516 million and 32 people from Buthidaung Township have a debt of Ks 13.82 million in Maungdaw District.

A total of 19 people from Thandwe Township have a debt of Ks 10.655 million, 451 people from Toungup Township have a debt of Ks 214.169 million, and 35 people from Gwa Township have a debt of Ks 17.9 million in Thandwe District.

A total of 1,433 farmers have a debt of Ks 52.9496 billion, according to statistics from the MADB’s Rakhine State branch.

The MADB has loaned Ks 86 billion for the 2017-2018 monsoon agricultural season and it has only received Ks 38 billion up to May 17. Only 43 percent of the farmers have been able to pay back the loans. 

The bank will not sue the farmers who have not been able to pay back the loans from last year.