Farmers Can Receive Myanma Agricultural Development Bank’s Disbursement Of Agricultural Loans Through MPT Money

11 Sep 2020

(Yangon, 11th September 2020) – MPT Money, Myanmar’s most trusted Digital Money Service, has expanded its collaboration with Myanma Agricultural Development Bank (MADB) for digital loan disbursement to farmers. Now, MPT Money agents will support loan disbursement to the farmers in Pathein Gyi, Monywa, Bago, Lashio, and Magwe Townships.

A Contract Signing Ceremony between both parties was held during the first week of September 2020 and it was signed by Daw Ohnmar Kyaw, General Manager of MADB and U Khin Maung Myint, Managing Director from MPT Money.

A large portion of Myanmar farmers depend on agriculture loans to fund their seasonal farming activities and each year MADB, as the largest financial institution serving the agriculture sector in Myanmar, disburses a large volume of agriculture loans to small-scale farmers across the country.

U Kyin Maung Myint, Managing Director of MPT Money, said: “At MPT Money, we believe that mobile money can help to overcome some of the important constraints that obstruct rural development in Myanmar where agriculture is a predominant industry. By collaborating with Myanma Agricultural Development Bank (MADB), we are supporting farmers across Myanmar in the disbursement of monsoon agricultural loans through our digital financial services and ultimately promote financial inclusion and cashless revolution in rural areas.”

“As the first stage, Myanma Agricultural Development Bank’s Agricultural Loan Program will be initiated at 22 District/Township branches utilizing Mobile Payment as a mechanism to conveniently disburse funds to the farmers where we will partner with MPT Money at 5 Township branches of MADB. We expect to expand our collaboration with MPT Money to other branches across the country as it is imperative that our farmers receive the funds in a timely manner”, added U Min Thu, Managing Director of MADB.

Surging use of MPT Money is now driving a cashless revolution also in rural areas and as such, this loan disbursement service will be swiftly expanded to the other branches of MADB. Moreover, MPT Money is offering its digital payment system to its customers for making financial transactions while staying at home during the COVID-19 outbreak.

Currently, MPT Money is offering services through its network of more than 27,000 agents located in the more than 280 townships nationwide. MPT Money offers digital money services such as Mobile Wallet Service, Money Transfer, Airtime e-Top-Up and Data Package Purchases, Merchant Payments, Cash-In & Cash-out at the MPT Money Agents and CB Bank ATMs, etc.

To access MPT Money’s digital payment service, customers can download MPT Money Application from http://bit.ly/MPTMoneyAndroid (for Android users) and from http://bit.ly/MPTMoney_iOS (for iOS users) and start enjoying the exciting benefits Digital Payment Services has to offer. MPT Money application can be used over any mobile network.

For more information about MPT Money and its services, please call 990, or visit the MPT Money official Facebook page at www.facebook.com/MPTMoneyOfficial