19 February 2018
Myanmar Women Entrepreneurs Association (MWEA) provided loan to the women working in the agriculture industry on Monday – the association has provided low-interest loan since 2005.
A total of 74 women from ten villages of Yangon and Ayeyawaddy regions received a total of 39 million kyats. The women who want to start flower or betel plantation or those already running the plantations can ask for loan disbursement from the association, MWEA chairperson said.
Chairperson, Myanmar Women Entrepreneurs Association, Hla Wati said “Interest rate is 3 % - 1% of the rate is given back to them for rural development. The model village for this program is Hti Saik Phaya Su village of Mawlamyaing Kyun Township. They don’t need to pay back the loan in monthly installment but to pay back 50% of the loan with interest in the first half of the designated payment period - the rest has to be paid back at the end of the period.”
Only women who certainly want to make flower and betel farming can get loan from MWEA. Those taking loan for 3 consecutive years are not allowed to apply for loan again.
Villager, Hti Saik Phaya Su Village, Win Myint said “As we get back 1% of the interest, our village already has 3.1 million kyats for our village development fund. Only the farmers can apply for the government loan but those working on small farming like flower and betel can’t get that chance. So this MWEA loan is beneficial for us.”
MWEA is facilitating the development and economic empowerment for Myanmar women by providing necessary capital resources, Knowledge, skills, management capacity and modern technology through partnership and collaboration with local and international organizations.