MSME loans disbursed to import substitution, export businesses

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) on Tuesday said they will grant MSME loans to import substitution businesses and businesses that can export.
UMFCCI, Small and Medium Enterprises Development Committee and AYA Bank cooperate to make loan disbursements to promote the production activities by sector and value-added import substitution production of local MSMEs.
The MSMEs that operate value-added production, and import substitution production are eligible for the loan.
Moreover, businesses that meet domestic needs and certain businesses that produce import substitutions and exports can apply for the loan.
People can apply for the loan at the respective region/state chambers of commerce and Brother Associations no later than 30 September.
Businesses that want loans must have proper solvency and will face legal actions as per the existing law if they fail to pay back the loan. — ASH/KTZH

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