Military junta’s Deputy Union Minister of Planning and Finance Maung Maung Win said that his government granted allocation of 170 billion kyat for establishing a MSME (Micro, Small and Medium Enterprises) Development Fund from its supplementary budget for 2022-23 financial year.

The junta has already approved this fund and it would be used for development of micro, small and medium enterprises in the country and also for holding exhibitions, giving short-term and long-term soft loans with low interest rate for these MSMEs as a priority, he added.

The Military Council established the Fund for Uplifting of National Economy with 400 billion kyat and now they added a new fund of MSME Development Fund for micro, small and medium enterprises in the country.

The Military Council chief said that the allocation of MSME Development Fund and COVID-19 Special Loans Fund was their attempt to uplift and bring recovery to the national economy, which was declined during the COVID-19 pandemic.

Myanmar’s national economy encountered the worst ever decline and slowdown after COVID-19 pandemic and the military coup and people are facing severe economic hardships