MoPF, MoI to collaborate on K150B MSME Development Fund loans

The Ministry of Planning and Finance and the Ministry of Industry have been working together to provide K150 billion in loans from the MSME Development Fund.
The State put K170 billion into the MSME Development Fund, and K150 billion of that will be disbursed. In line with the State Administration Council’s economic objectives, State-owned banks (Myanma Economic Bank and Myanmar Agricultural Development Bank) and 15 private banks held a signing ceremony of participating agreement with financial institutions (PFI) regarding loan disbursement on 3 October in MEB (head office) in Nay Pyi Taw, in which K150 billion loans will be disbursed at a cheaper interest rate through PFIs.
The managing director of the Myanma Economic Bank and PFI’s representatives signed the participation agreements in the presence of the chair and vice-chair of the fund management task force.
Officials of the State banks and representatives of the private banks elaborated on loan term regulation, loan proposals, documents and loan procedures. They responded to the questions raised by the attendees. — NN/KK