Mandalay Coffee Group signs deal with Yoma Bank

Writer: 
Phyo Wai

Mandalay Coffee Group (MCG) has signed an agreement worth K800 million with Yoma Bank to help improve coffee quality and develop coffee-related products, said a statement released by the group on March 19.

“I think the signing of the agreement is a step forward to improve coffee growing and production for

our country. We are glad to financially help small-scale coffee growers and improve market share,” said Kyaw Hlaing, executive director of MCG.

Established in September 2014 and formed with shareholders, MCG grows, produces and exports coffee.

In cooperation with Winrock International, MCG participated in boosting production for USAID

rural development projects in order to grow high quality coffee in Ywangan region, Shan State.

Under the sponsorship of Rabobank Foundation, a total loan of K160 million was disbursed to over 2,500 family businesses in March last year.

Under the current agreement, it is expected to boost exports by over 200 per cent this year.

USAID mission director Teresa McGhhie said financial help for coffee growers, producers and exporters was one of the greatest challenges facing in the effort to produce high quality coffee.