Denmark’s Responsible Business Fund (RBF) will provide its fourth loan, Ks 5 million for the development of Small and Medium Enterprises (SMEs) in Myanmar

Denmark’s Responsible Business Fund (RBF) will provide its fourth loan, of kr5 million ($755,925 USD, or K1.13 billion), for the development of small- to medium-sized enterprises (SMEs) in Myanmar.

The RBF, which is part of the Danish Development Assistance to Myanmar, started in September 2017 with the specific goal of rendering assistance to SMEs in this country.

Local SMEs that would like assistance can apply for a grant from the fund between July 1 and July 22 of this year.

SMEs working in fields such as wastewater treatment projects in Yangon, energy efficiency projects in other states and regions, water use efficiency and recycling, occupational safety and health (OSH), food safety, managerial and supervisory skills, or practical and technical skills may apply for grants.

The RBF will provide 50 percent of the project cost (up to K50 million) for energy efficiency, water use efficiency and recycling projects. It will provide up to 80 percent of project costs (up to K40 million) for occupational, safety and health, food safety, managerial and supervisory skill, and practical and technical skill projects.

Myanmar is trying to help local SMEs to develop and thrive by providing loans. Currently, the government has already provided K30 billion ($19.9 million US) in loans, and K7.393 billion ($4.9 million US) in credit guarantee insurance (CGI) loans. Meanwhile, the Japan International Cooperation Agency (JICA) has provided ¥20 billion ($185.5 million US, or K279.5 billion) in loans, the Myanmar Economic Bank a further K200 billion ($132.7 million US), and Germany’s Cooperation for International Cooperation (GIZ) some €15.3 million ($17.2 US, or K26 billion).

Currently, there are over 73,000 SMEs registered under the Ministry of Industry, and around 90 percent of the enterprises in Myanmar are categorized as small- to medium-sized.

Applications for grants must be filed in person at Building B, 10th floor, room 07, Shwe Hintar Condo, Shwe Hintar Road, Hlaing Townships, Yangon.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/denmark-provide-k113-billion-loan-myanmar-smes )

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