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Private banks offer hire purchase programmes, auto loans, home loans for seafarers, beneficiaries

Some private banks are offering auto loans to own a car and home loan programmes under hire purchase agreements with low deposits. On 23 December, AYA Bank revealed how the bank buys foreign income of the seafarers with a high exchange rate and introduced the AYA card promotion programme for its debit card, credit card and prepaid card holders, auto loan and home loan programmes, AYA Sompo insurance services and benefits for the beneficiaries of the seafarers, at an event held at headquarters of Myanmar Seafarers Federation.

Additionally, Yoma Bank will also offer the best rate for the seafarer in foreign inward remittance. Opening Flexi Everyday Account of the Yoma Bank, service fee exemption for foreign income remittance and hire purchase system and home loan programme with low deposit and service fee exemption benefits for the seafarers will be provided, as per its statement. The federation will hold an event regarding banking services for seafarers on 30 December 2022.

Source: The Global New Light of Myanmar

Hydropower and solar energy of Kanyin reservoir to produce 29.9 MW of electricity

Union Minister of Electric Power U Thaung Han, during his inspection tour of the Kanyin reservoir in Ingapu township of Ayeyawady region on 23 December, said that, according to the pre-feasibility studies, 29.9 megawatts of electricity can be produced from hydropower and solar energy from the reservoir.

In addition, the Union minister underscored that the technological needs will be fulfilled with the arrangements of the regional government as soon as possible.

The wind energy project is being implemented in Ayeyawady Region and it should be launched as soon as possible for the socioeconomic development of the region, Union Minister U Thaung Han added. The Kanyin Dam Project was built in the 2002-2003 financial year and was completed in the 2011-2012FY, and the irrigation system was started in the 2017-2018FY.

Source: The Global New Light of Myanmar