Two Important Agreements for Mung Bean Farmers in Myanmar
At a signing ceremony in Yangon, Myanmar, two important agreements for mung bean farmers were signed: an Agricultural Loan Agreement with a bank and a Collective Selling Agreement with a company.
911 farmers receive a loan
The Agricultural Loans Agreement was signed between A-Bank and the Regional Farmers Development Association (RFDA). A-Bank will lend USD 506,000 (or 758,400,000 Myanmar Kyats) to 911 farmers from 44 villages in the townships Thonegwa and Khayan with a total mung bean acreage of 5,056 acres. The loan is intended for purchasing inputs and for agricultural loans, particularly for labor charges, for farmers.
The Collective Selling Agreements was signed between the company Myint Maw Taw Win (MMTW) and RFDA. Based on this agreement, MMTW will buy all produce of mung beans from the ‘Pulses, People, Planet and Profit (P4)’ project villages with the collective selling approach, as long as the produce adheres to Good Agricultural Practice protocols. The price of the mung beans that the companies buy is dependent on the quality produced.
Approx. 300 participants attended from the surrounding villages, including regional Members of Parliament, the Yangon Regional Director, and officials from the Ministry of Commerce and General Administration Department. The event was co-organized by ICCO Cooperation, Network Activities Group (NAG), A-Bank, the DaNa Facility and RFDA.
Watch here an animation of the P4 project: