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Total loan: $10,625
Min Ma Kone Village
Pakokku, Magway Region, Myanmar (Burma) / Agriculture
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Min Ma Kone Village's loan finished fundraising,
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A loan helped to help 52 villagers purchase farming inputs that will increase crop yields.
Min Ma Kone Village's story
Located in Central Myanmar’s Yaysagyo township, this community currently has 52 village customers, including 6 CBO (Community Based Organization) committee members who help to lead the loan program in the area. This village is located in Myanmar's dry zone, where insufficient rainfall is very common. Most villagers are Buddhist and struggle finding access to affordable credit, as the state-owned agricultural bank is not active in the area. Most farmers in this village grow sesame and cotton, and some grow chili. Farmers in this village spend, on average, $150 each season on farming expenses, such as seeds, compost, and labor fees. Labor, in particular, is expensive, given that most young people are migrating to urban centers in search of jobs. The new loan will help these smallholder farmers cover their farming expenses, which are necessary to enrich and efficiently harvest their crops. Pictured above are the committee members from the Min Ma Kone Village CBO: U Aung, U Sein, U Phoe, Daw Thin, Daw Ye, and U Zaw. Also included in photo are two non-committee member borrowers. U Aung, third from the left, is 57 years old with a family of six. He grows sesame, rice paddy, and chick peas. For supplementary income, he sells fermented soybeans to other farmers. Last season, he used his loan to buy three bags of fertilizer for his farm. This season, he also hopes to invest in fertilizer to boost crop yields and, therefore, crop sales.