Pyidaungsu Hluttaw held its 6th-day meeting of the 16th regular session yesterday, with the topics on getting international loans and signing a memorandum of understanding to initiate the 8th round of relaxing ASEAN financial services.
The Hluttaw first discussed the proposal for getting yen 30 billion, put forward by the President, from the Japan International Cooperation Agency to remedy the impacts of COVID-19 in socioeconomic sector and reform plans in economic development of the country.
Deputy Minister for Planning, Finance and Industry U Maung Maung Win replied the JICA loan will be used for policy matrix in the action plan of COVID-19 Economic Relief Plan (CERP). The Pyidaungsu Hluttaw approved for getting the loan of JICA.
The MPs also discussed another proposal sent by the President to get the maximum K1,311.064 billion loan from the Central Bank of Myanmar to reduce the deficit of Union government’s deposit for the 2019-2020 FY. Deputy Minister U Maung Maung Win explained drawing budgets based on foreign loans and expenditures.
Deputy Governor of Central Bank of Myanmar U Bo Bo Nge discussed the decline of CBM’s loan from the government in previous financial year and its plan to give out the K1, 311.064 billion loan to the Union government.
The Hluttaw also agreed the loan from CBM to the Union government. Pyidaungsu Hluttaw also approved signing of Myanmar in a memorandum of understanding to initiate the eight round of relaxing ASEAN financial services.
A loan proposal of $200 million from the International Development Association of the World Bank, put forward by the President, for the Myanmar National Food and Agriculture Systems project was discussed by MP Dr Than Aung Soe from Minhla constituency, MP Daw Htu May from Rakhine State constituency 11, and MP Daw Cho Cho from Ottwin constituency. The other 13 MPs also discussed the proposal, and the 7th day meeting of Pyidaungsu Hluttaw will be held on 29 May.— Min Min Zaw, Han Lin Naing/Photo: Kyaw Zin Htike (Translated by Aung Khin)