330 enterprises receive coronavirus soft loans in Mandalay

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Officials from MRCCI giving service to a woman for coronavirus soft loan processes. Photo: Than Zaw Min (IPRD)

Out of a total of 417 enterprises applying for the coronavirus soft loans, only 330 enterprises are qualified for funding in Mandalay Region, according to the Mandalay Region Chambers of Commerce and Industry (MRCCI). The government allocated K49.116 billion from coronavirus fund for the sixth time to the pandemic-impacted enterprises.
The enterprises have applied for soft loans through Mandalay MRCCI. A total of 330 enterprises have been granted the loans with 86 enterprises in the fourth time, 30 enterprises in the fifth time and 214 enterprises in the sixth time, said U Kyaw Soe Naing, an executive of the MRCCI in Mandalay Region.
A total of 417 enterprises have applied for the soft loan in Mandalay Region. Currently, a total of 330 enterprises have been granted loans for the sixth time. The loan granting letters are received with the seals closed. We are not sure how much they received. The enterprises have to come and take the granting letters at the MRCCI office in Mandalay Region at 2 pm on 22 June, he added. The enterprises including hotels, rice mills and gem sectors are from Mandalay, Bagan, Nyaung-U, PyinOoLwin townships. With the sectors of the businesses different, the loan amounts are also different and they have to withdraw through government banks. The duration of the loan period is only one year with one per cent interest. The government provided K100 billions of coronavirus fund to the CMP, hotels and tourism and SME sectors.
A total of 4,259 companies and entrepreneurs have applied for the coronavirus soft loans from across the country. The government allocated K86.6669 billion to 3,094 companies and enterprises with 85 for the first time, 113 for the second time, 111 for the third time, 417 for the fourth time, 290 for the fifth time and 2,078 for the sixth time. —Than Zaw Min (IPRD) (Translated by Hay Mar)

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