JICA to offer two-step loan to help SMEs

Japan International Cooperation Agency (JICA) will plan to offer two-step loan of 11.5 billion yen (about Ks151.6 billion) for next fiscal year 2018-2019, state media has reported.

At the 9th day meeting of the seven regular the session of Second Pyidaungsu Hluttaw held on 22 February, 14.9 billion yen was approved for JICA SME two-step loan phase-2. The loan agreement was signed on 29 March.

To implement this phase-2, Myanmar Citizens Bank, Kanbawza, Myanma Economic Bank, Myanmar Cooperative Bank, Ayeyawady Bank, Myanmar First Private Bank and United Amara Bank were selected as Participating Financial Institutions (PFIs), according to a working committee for loan access held on 2 August at the Ministry of Planning and Finance.

This month, 3 billion yen (about Ks36 billion) will be lent to the small and medium enterprises (SMEs) from respective regions and states through seven PFIs.

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