MEB, six private banks to lease K30 billion to SMEs

Myanma Economic Bank, teaming up with six private banks will give K30 billion loans to small and medium enterprises (SMEs), according to Ministry of Industry. The country’s SMEs can acquire loans from the Myanma Oriental Bank, Ayeyawady Bank, from Co-Operative Bank (CB), commonly known as CB Bank, the Myanmar Citizens Bank, the Kanbawza Bank and […]

New Companies Act to relieve some burdens on SMEs

The upgraded Myanmar companies act will remove some burdens on small and medium enterprises, according to the Directorate of Investment and Companies Administration (DICA). “We have upgraded some of the provisions (of the existing Myanmar companies act) to be in line with the current situations and to help promote the SMEs and small companies in […]

SMEs get more foreign loans

Minister for industry Maung Myint says he is planning to take a total of US$50 million – US$20 million from Singapore and US$30 million from Vietnam – to disburse soft loans to small- and medium-sized enterprises (SMEs). “Taking foreign loans is ongoing. The ministry will disburse soft loans to SMEs when we receive them,” said […]

More to be done to boost local financial sector

Myanmar is yet to further strengthen local financial institutions given the low number of bank accounts held by its citizens as well as limited lending to small and medium-sized enterprises (SMEs), said a German expert. “Currently, Myanmar’s financial sector has too few depositors. The majority of people have no significant role in the sector. The […]

JICA to offer SME Loans

The Japan International Cooperation Agency (JICA) is planning to provide loans for small and medium- sized enterprises (SME) in Myanmar, according to the vice president for the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). “At least Ks 3 billion is set aside for the loan fund. JICA will provide the fund […]

SMEs service centres to be opened in border areas

<a href=”” target=”_blank”><img src=””></img></a> YANGON- With the aim for development of small and medium enterprises (SMEs), government will be providing SME centres not only in States and Regions, but also in border areas. “The government is planning to open SME service centres across the nation. We have mainly targeted to open SMEs service centres in […]

Local SMEs in need of loan

Small and Medium-sized Industrial Development Bank (SMIDB) and Japan International Cooperation Agency (JICA) are holding talks on the loan disbursement to local Small and Medium-Sized Enterprises (SMEs), according to the sources. “As part of it, the JICA is observing the local banks, but has yet to reveal the banks’ name. It seems that firstly the […]

Vietnamese bank steps in to finance local small-scale loans

The Small and Medium Industrial Development Bank (SMIDB) will fund its SME loan program this year through a Vietnamese wholesale loan at half the interest of previous loans from Myanmar state-run banks, officials said. The US$30 million wholesale loan from Bank of Investment and Development of Vietnam (BIDV) at a 4 percent interest rate will […]