Local SMID bank holds 20th annual meeting

Small and Medium Industrial Development Bank holds annual meeting.
Small and Medium Industrial Development Bank holds annual meeting.

The Small and Medium Industrial Development Bank held its 20th annual meeting at Myanmar convention Centre (MCC) here on Sunday. Union Minister at the President Office U Soe Thane made opening speech of the meeting, saying that the SMID bank has received K 90 billion loan from the Central Bank of Myanmar. The SMID bank has disbursed K 14.75 billion loans to business firms with 8.5 percent interest rate in 2014-2015 fiscal year, and has targeted K 15 billion in next fiscal year, with K 2 billion each for Yangon, Mandalay, Ayeyawady, Sagaing regions and Shan state, as well as K1 billion each in other states and regions.

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