Government will provide over K 21 billion loan to 1,200 businesses that suffered from the impact of COVID – 19 pandemic

The government will provide a K21.122 billion loan to 1,200 businesses that suffered from the impact of the COVID-19 pandemic, according to U Thaung Tun, Union Minister of the Ministry of Investments and Foreign Economic Relations.

He said that during the video conference of the COVID-19 Economic Relief Work Committee, chaired by him, held on October 14.
“The government allocated K100 billion to provide the second trench of loans, out of which we have used K20.277 billion to provide loans to K1,041 businesses in the first batch. From this meeting, we will approve K21.122 billion loans for 1,200 businesses,” U Thaung Tun said.

For the first trench of loan, the committee has approved K101.128 billion loans to be provided to 3,393 businesses and of which 3,239 have received loans. It is working with Myanma Economic Bank to provide loans to the remaining 154 businesses.

The government has provided K 1.01 billion to 41 businesses in the agriculture sector, K2.957 billion to 182 businesses in livestock breeding, K2.218 billion to 93 businesses in the fishery sector, K1.77 billion to 42 export businesses, K3.432 billion to 153 businesses in the import substitute sector, K1.257 billion to 49 business in Supply Chain, K27.56 billion to 49 businesses in the food manufacturing sector, K870 million to 70 businesses in overseas employment, and K825 million to 41 vocational training schools.

(Myanmar Business Today: https://mmbiztoday.com/govt-to-provide-over-k21-billion-loan-to-1200-businesses/ )

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