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RDB lends $5m for rice

RDB lends $5m for rice

THE Rural Development Bank (RDB) lent US$5 million last week to rice millers and other agricultural businesses, the firm’s director general said. Sun Kunthor said the loans were approved last week after receiving applications for $46 million from the rice industry as farmers look to boost investment during the harvest. A further $5 million in loans was likely to be approved this week, he added, “so that [farmers] can buy paddy and process rice to export”. RDB was charging 6 percent to 10 percent interest per year, said Sun Kunthor. RDB has earmarked $33 million in loans for the rice industry by the end of 2010.

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