Native name | မြန်မာ့လယ်ယာဖွံ့ဖြိုးရေးဘဏ် |
---|---|
Company type | State-owned enterprise |
Founded | 1953 |
Headquarters | Yangon, Myanmar |
Products | Banking |
Parent | Ministry of Agriculture and Irrigation |
The Myanma Agricultural Development Bank ( Burmese: မြန်မာ့လယ်ယာဖွံ့ဖြိုးရေးဘဏ်; abbreviated MADB) is a government-owned bank specialized in providing financial services to agricultural enterprises in Myanmar (Burma), and is the largest financial institution of its kind. [1] [2] The bank is owned and operated by the Ministry of Agriculture and Irrigation (MAI), and has 206 branches nationwide. [2] MADB provides loans to a sizable number of rural households, serving 1.87 million customers in 2012. [1] [2] MADB loan products typically cover farmers' short-term working capital needs (e.g., purchase of seeds, fertilizers, and pesticides; payment of salaries for farm workers; and lease of agriculture equipment). [2]
MADB was first established as the National Agricultural Bank (နိုင်ငံတော်စိုက်ပျိုးရေးဘဏ်) in June 1953 by the Burmese government to support the development of agriculture, livestock, and rural enterprises in Myanmar. [2] Its immediate predecessor, the Myanma Agricultural Bank, was established in 1976, an offshoot of the Agricultural Finance division of the People's Bank. [3] MAB was renamed in 1990, and was reconstituted in 1997 under the Myanma Agricultural Development Bank Law. [3]
MADB's headquarters have been located on Pansodan Street in downtown Yangon, Myanmar since 1996, [4] occupying a colonial-era landmark that previously housed the Rangoon branch of the National Bank of India. [5] The building was completed in 1930, designed by Thomas Oliphant Foster and Basil Ward; the former architect designed the Myanma Port Authority building. [5] In the 1940s, Grindlays Bank acquired the building. [5] With the Burmese Way to Socialism, the bank was nationalized and converted into People's Bank No. 11 in 1963. [6] From 1970 to 1996, the building housed the National Museum of Myanmar (Yangon). [5]
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Native name | မြန်မာ့လယ်ယာဖွံ့ဖြိုးရေးဘဏ် |
---|---|
Company type | State-owned enterprise |
Founded | 1953 |
Headquarters | Yangon, Myanmar |
Products | Banking |
Parent | Ministry of Agriculture and Irrigation |
The Myanma Agricultural Development Bank ( Burmese: မြန်မာ့လယ်ယာဖွံ့ဖြိုးရေးဘဏ်; abbreviated MADB) is a government-owned bank specialized in providing financial services to agricultural enterprises in Myanmar (Burma), and is the largest financial institution of its kind. [1] [2] The bank is owned and operated by the Ministry of Agriculture and Irrigation (MAI), and has 206 branches nationwide. [2] MADB provides loans to a sizable number of rural households, serving 1.87 million customers in 2012. [1] [2] MADB loan products typically cover farmers' short-term working capital needs (e.g., purchase of seeds, fertilizers, and pesticides; payment of salaries for farm workers; and lease of agriculture equipment). [2]
MADB was first established as the National Agricultural Bank (နိုင်ငံတော်စိုက်ပျိုးရေးဘဏ်) in June 1953 by the Burmese government to support the development of agriculture, livestock, and rural enterprises in Myanmar. [2] Its immediate predecessor, the Myanma Agricultural Bank, was established in 1976, an offshoot of the Agricultural Finance division of the People's Bank. [3] MAB was renamed in 1990, and was reconstituted in 1997 under the Myanma Agricultural Development Bank Law. [3]
MADB's headquarters have been located on Pansodan Street in downtown Yangon, Myanmar since 1996, [4] occupying a colonial-era landmark that previously housed the Rangoon branch of the National Bank of India. [5] The building was completed in 1930, designed by Thomas Oliphant Foster and Basil Ward; the former architect designed the Myanma Port Authority building. [5] In the 1940s, Grindlays Bank acquired the building. [5] With the Burmese Way to Socialism, the bank was nationalized and converted into People's Bank No. 11 in 1963. [6] From 1970 to 1996, the building housed the National Museum of Myanmar (Yangon). [5]
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