YANGON, Nov. 23 (Xinhua): Myanmar will get a 50-million-U.S. dollar loan from Singapore and Vietnam for the development of its small- and medium-sized enterprises (SMEs), Myanmar authorities said today.
The loan, to be obtained in the next fiscal year starting April 2015, will be 30 million dollars from Vietnam and 20 million U.S. dollars from Singapore, according to a loan agreement signed with the loan providers.
The loan will be distributed to the SMEs through Myanmar's Small and Medium Industrial Development Bank at an interest rate of 4 per cent, according to the SME administration.
During the current fiscal year, the bank had provided 20 billion Kyats (20 million U.S. dollars) to the SMEs.
According to the Ministry of Industry, there are more than 120, 000 licensed SMEs in Myanmar, or over 99 per cent of the industries across the country.
Meanwhile, Myanmar is planning to map out a plan for the development of SMEs with the help of a German foundation - the Friedrich Naumann Foundation (FNF).
The plan covers capacity building, workshops and conference, study tours as well as lectures about democratic reform.
Myanmar to get loan from Singapore, Vietnam for SME development
FE Team | Published: November 24, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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