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Up to 5 million kyats per loan at 2% interest per annum to small grocery stores affected by COVID-19

The project will provide loans of up to 5 million kyats per annum to small grocery stores affected by COVID-19 at an interest rate of 2% per annum according to the Ministry of Planning, Finance and Industry published by the Financial Supervision Department. Nay Pyi Taw Council, which was affected by COVID-19. Low interest loans (one year loan term) to small grocery stores in the region or state with a maximum interest rate of 2% per annum up to 5 million kyats per project. The Ministry of Finance and Industry will provide loans through microfinance institutions.

Therefore, grocery stores that want to get a loan should apply to Hana Microfinance Limited in the states and regions, Microfinance Nanster International Co., Ltd, Alliance for Microfinance in Myanmar, Stapana Limited, Alliedon Microfinance Company Limited; Pact (Global micro Finance Fund), Myat Kyun Thar Microfinance Company Limited; LOLC Myanmar Microfinance (S), Dawei Development Public Company Limited; Aung Pyae Phyo Kyaw Company Limited, Blue Lion Microfinance (Myanmar) Co., Ltd,  Sanda Phone Pyae Microfinance, Inocular Petrol Microfinance Co., Ltd, Khant Thu Walar Microfinance Co., Ltd.

People can get a loan by contacting microfinance institutions such as ASA Microfinance (Myanmar) Ltd. The Working Committee on the Economic Impact of COVID-19 has set up the COVID-19 Fund to provide much-needed financial assistance to businesses hotels and tourism; small Loans to small and medium enterprises have been issued affected by COVID-19 since April 9, 2020. The effects of COVID-19 were covered in accordance with CERP. 303,017.236 million kyats for the treatment of COVID-19 disease; 1508370.011 million for support to households and national disaster fund; 399,000 million kyats for loans to businesses; 728,515.254 million kyats for CERP activities; 200,500 million kyats for the opening of skills training, for a total of 2951664.128 million kyats.

Source: Daily Eleven

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