(Yangon, 12th June 2020) – MPT Money, Myanmar’s most trusted Digital Money Service has teamed up with Myanma Agricultural Development Bank (MADB) to support the Monsoon Agricultural Loan Program at MADB Pathein Gyi Township Branch by providing loan disbursement service through MPT Money utilizing MPT Money agents, without any fees and charges for the farmers. This project is the pilot project between MPT Money and MADB for the disbursement of loan without any fees or charges and this program to continue in future with more expansion to nationwide locations.
Agriculture is a predominant industry of Myanmar’s economy and a large portion of Myanmar farmers depend on bank loans to fund for their seasonal farming activities. Each year, MABD disburses a large volume of short-term loans to farmers.
“MPT Money, as the fastest growing mobile financial services platform and we are proud to partner with Myanma Agricultural Development Bank to support Myanmar farmers in the disbursement of Monsoon agricultural loans. With MPT Money, the disbursement of seasonal loans by MADB has now entered the digital era!”, said U Khin Maung Myint, Managing Director of MPT Money.
“We believe that by partnering with MPT Money, we can provide convenient and effective financial service for farmers during COVID-19 period as we can avoid over-crowding at our branch. It is a well trusted digital money service and farmers can receive their loan disbursement monies faster than cashing out at the branch,” explained U Tun Tun Oo , Regional Manager, Pathein Gyi Township.
