More than 3,300 enterprises granted over K100 billion from Coronavirus Fund

10 July 2020
More than 3,300 enterprises granted over K100 billion from Coronavirus Fund
Commuters wearing face masks amid concerns over the spread of the COVID-19 coronavirus make their way by walking and by bikes in the Hlaing Tharyar township on the outskirts of Yangon on May 16, 2020. Photo: Sai Aung Main/AFP

More than 3,300 enterprises have been granted over K100 billion from the Coronavirus Fund in the past four months, as per the data of a committee to remedy the economic impacts caused by the pandemic.

The committee has been granting the loan to the business stricken by the pandemic from the initial fund, with K50 billion allocated from the country’s revolving fund and another K50 billion from the social welfare fund. The priority sectors are CMP garment business, hotel and tourism service and small and medium enterprises (SMEs). 

The interest rate for a one-year period is only one per cent.