2,251 firms benefit from 2nd COVID loans of over K41 bln

The 2nd COVID loans amounting to K41.899 billion will be provided for 2,251 enterprises, according to the working committee to address the impact of COVID-19 on the country’s economy.
For the first time, authorities targeted to distribute a total of K101.128 billion loans for 3,393 enterprises whose businesses have been badly affected by COVID-19. Among them, the authorities allocated K97.050 billion for 3,239 enterprises. Then, Myanma Economic Bank is arranging to provide the remaining K4.078 billion for 154 enterprises.
The government targeted to distribute K100 billion to provide as COVID loans for the second time. More than 10,000 enterprises have applied for the COVID loan. About K20.777 billion loans will be granted to provide for 1,041 enterprises for the first batch. A few days ago, about K21.122 billion were also approved to provide for 1,200 enterprises. Therefore, a total of K41.4889 billion will be distributed for 2,241 enterprises for the second COVID loans.
From the second COVID loans, authorities targeted to provide K1,010 million for 41 enterprises from agriculture sector, K2,957 million for 182 enterprises from livestock sector, K2,218 million for 93 enterprises from fisheries sector, K1,770 million for 42 enterprises from export sector, K3,432 million for 153 enterprises from import substitution sector, K1,257 million for 49 enterprises from supply chain sector, K27,560 million for 1,570 enterprises from foodstuffs sector, K870 million for 70 enterprises from international recruitment sector and K825 million for 41 enterprises from livelihood sector, according to the working committee to address the impact of COVID-19 on the country’s economy.
Furthermore, the Ministry of Investment and Foreign Economic Relations will reportedly provide K15 billion loans to the people engaged in the film, music, theatre, periodicals and media field under separate programmes. —Aye Maung (Translated by Hay Mar)

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