MYANMA Economic Bank issued a press release on 28 September, saying that the bank has a plan to disburse loans to rice mills and micro, small and medium-sized enterprise businesses.
As MEB issues loans to MSME businesspersons to import necessary machinery abroad and expand their businesses, those businesspersons can apply for borrowing loans at district and township branches of MEB to take K500 million in maximum in the JICE MSME two-Step loan and K100 million in maximum in the MSME development loan system.
Myanma Economic Bank under the Ministry of Finance and Revenue disburses loans at soft interest rate to entrepreneurs under the loan policy in order to develop micro, small and medium-sized enterprises including rice mills.
The State has set up K170 billion for development of MSME. Plans are underway to contribute K20 billion to development of MSME and disburse K150 billion as loans to these businesses. Loan disbursement procedures for MSME entrepreneurs have already been issued. MSME business owners may apply for loans not only through the State-owned Myanma Economic Bank and Myanmar Agricultural Development Bank but also through 16 private banks, according to the announcement. — Htun Htun/TTA
