The loan is a two-step loan type where the Japanese government lends to the Myanmar government, which then lends to the Myanmar Agricultural Development Bank (MADB) to support farmers. This system allows farmers to purchase agricultural machinery with a long-term loan (5 years) at an annual interest rate of 7%, payable in annual installments. You can purchase four-wheel tractors and harvesters sold by Sein Yaung So Company through this long-term installment system via MADB.
Required Documents
- 1. Original NRC
- 2. Original Household List
- 3. Village Administrator Recommendation
- 4. Agricultural Bank Loan Book
- 5. Farmland Ownership Form 7 + Form 105 Original (15 to 30 acres) - acreage may vary based on local land value.
- Applicant must be the head of household.
- 6. Two Guarantors (Original NRC / Original Household List)
Recommendations from 8 Township Departments
- 1. Myanma Economic Bank Recommendation
- 2. Consumer Affairs Department Recommendation
- 3. Cooperative Department Recommendation
- 4. Myanmar Agricultural Development Bank Department Recommendation
- 5. Agricultural Mechanization Department Recommendation
- 6. Department of Agriculture Recommendation
- 7. Department of Land Records
- 8. General Administration Department Recommendation
- Maximum loan amount from MADB is 1200 Lakhs.
- Initial 30% down payment required. Remaining 70% to be paid in 5 installments over 5 years.
- Must comply with rules and regulations set by Myanma Agricultural Development Bank.