Working Committee to address impact of COVID-19 on national economy meets

The meeting of the Working Committee to address the impact of COVID-19 on the national economy 1/2024 was held yesterday morning at Office No 1, Ministry of Investment and Foreign Economic Relations.
The meeting was chaired by Dr Kan Zaw, Union Minister for Investment and Foreign Economic Relations and attended by the members of the Working Committee, deputy ministers of the Ministry of Investment and Foreign Economic Relations, Ministry of Labour, Ministry of Commerce and Ministry of Hotels and Tourism, and the deputy governor of the Central Bank of Myanmar. Moreover, permanent secretaries and senior officials from the Ministry of Transport and Communications, Ministry of Planning and Finance, and Ministry of Commerce also attended the meeting.
The meeting discussed the reimbursement status of K50 billion to the State Revolving Fund and the repayment of K10 billion from K150 billion issued from the 2019-2020 Financial Year General Reserve Fund (GRF). The total repayment amount of K60 billion was disclosed at the meeting. The efforts made by Regional/State Credit Supervision Teams to collect loan principal, loan repayment situations by businesses which have completed three years of the loan term and one-year loan extension to the businesses from Film, Music, Theatrical, Press and Media Sectors are also updated at the meeting.
Moreover, the secretary of the Working Committee, Deputy Minister for Investment and Foreign Economic Relations, Dr Wah Wah Maung, discussed detailed loan repayment monitoring situations in Regions and States and collaboration with concerned Ministries and credit Supervision Teams, as well as the situation of capital and interest return.
The meeting also discussed the process to be carried out by the committee, overdue loan recovery plans and procedures, and cooperation and collaboration with the departmental concerned. — MIFER