26 August 2024
The MSME Development Committee has announced that ten MSME entrepreneurs will receive a 280 million kyats loan for the first time.
The government established the MSME Development Fund with an initial capital of 170 billion kyats, allocating 150 billion kyats as loans to support MSME growth. These low-interest loans, aimed at providing affordable financing to MSMEs, allow each eligible entrepreneur to borrow up to 500 million kyats, repayable in installments. The government remains committed to extending these loans to new MSMEs.
In the first phase, completed in February 2016, 57.634 billion kyats were distributed to 269 SME entrepreneurs. Repayments from these loans enabled further financial assistance to 283 additional SMEs, totaling 66.944 billion kyats. The second phase, completed in September 2018, saw 194.965 billion kyats disbursed to 1,306 SME entrepreneurs, with an additional 66.386 billion kyats provided to 254 more SMEs from loan repayments.
As of 28 February 2023, 124.578 billion kyats had been lent to 552 SME entrepreneurs from the first phase and 261.251 billion kyats to 1,560 from the second phase. Additionally, 71.731 billion kyats in emergency loans have been provided to SMEs affected by the COVID-19 pandemic.
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