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Myanmar Agriculture Improvement Financial institution (MADB) introduced that it has prolonged the compensation interval for the Covid-19 aid loans and 2021 winter crops loans.
The financial institution stated that the extension of the compensation interval is to ease the hardship of the farmers amid Covid-19 journey restriction, and disruption in commerce circulation and good transportation, and to grant new loans for the winter crops.
That is the second extension made by the financial institution for its loans. The primary time, the financial institution prolonged the due date for COVID-19 aid mortgage to December 31, 2021 and the winter crops loans to January 31, 2022.
The financial institution now prolonged the compensation interval for Covid-19 aid mortgage to March 2022 this time, and for 2021 winter crops loans to the tip of February.
Along with agricultural loans, the Myanmar Agriculture Improvement Financial institution can be offering different loans similar to JICA Two-step Mortgage, MEB Two-step Mortgage and Covid-19 aid mortgage.
Since final 12 months, farmers in Myanmar are fighting excessive enter costs as fertilizer costs elevated three fold and decreased credit score entry.
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