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Myanmar: Govt to Lend K20 Billion Loans to Over 1,000 businesses
The government of Myanmar has announced that it will provide a total of K20 billion to over one thousand businesses, who applied for the loans from the Committee for Remedying the Impacts of the Coronavirus Disease 2019.
As the second batch of the loan, the committee will provide K20.775 billion to the selected 1,041 businesses after examining the applications.
The selected companies will have to go through the banking procedures to make sure they are not sued by any bank for financial reasons.
In addition, the committee continues to examine the remaining applications to provide loans to more businesses.
In August, the Ministry of Planning, Finance, and Industry also provided K59.498 billion to 44 microfinance companies, who will lend the approved funding to teashops and small-scale restaurants opened in a settled place across the country.
In April, the government released a Covid-19 Economic Relief Plan, a multifaceted approach to mitigate the economic challenges of Covid-19 and preparing to kick-start the recovery.
Source: https://mmbiztoday.com/govt-to-lend-k20-billion-loans-to-over-1000-businesses/