Mawlamyine, July (26)
The businessmen told Than Liwn Times that they do not have any hope for the loan that will be granted by the military council.
The regime’s Ministry of Planning and Finance announced on July 23 that 400 billion kyats from the COVID-19 relief fund will be loaned to local businesses at a low interest rate.
The regime’s National Central Committee for the Prevention, Control, and Treatment of COVID-19 said that 400 billion kyats of specific funds will be loaned out of the more than 490 billion kyats remaining as of July 14 this year.
A livestock entrepreneur said there is no hope of getting the loan due to many restrictions.
He added that, “I would be happy if I got a loan. However, since the authorities ask for household and farm grant certificates, farmers in our area do not meet their demands, so they often do not get loans.”
The junta announced that the loan will now be given to agricultural and livestock-based manufacturing and industrial enterprises.
A businessman said that although the military council has specified the businesses that will be given funds, there is little opportunity to get the loans due to the lack of proper scrutinization.
The junta said that since the number of COVID infections in the country has decreased, efforts will be made from all sides to recover the country’s economy.
The loan will be given under the supervision of the Ministry of Planning and Finance, but the type of business, loan amount, and interest rates are not mentioned in the statement.
Due to the military council’s dollar restrictions and stringent rules, businesses are finding it difficult to continue operating while some businesses have begun to shut down.
News- Than Lwin Times
