Myanmar provides US$22mil loans to pandemic-hit businesses

NAYPYIDAW (Xinhua): The Myanmar government has provided 31.8 billion kyats (US$22 million) loans to the most vulnerable business affected by Covid-19, an official from the Ministry of Planning, Finance and Industry told a press briefing on Wednesday (June 24).

"Under the country's Covid-19 Economic Relief Plan, the loans had been given out as of June 18 to 832 vulnerable businesses in the garment manufacturing sector, hotels and tourism as well as small and medium enterprises (SMEs) at 1 percent interest rate with one-year period," said Maung Maung Win, deputy minister of Planning, Finance and Industry.