Wednesday, August 2, 2017

JICA to triple loans to SMEs next fiscal year

August 1, 2017
The Japan International Cooperation Agency (JICA) is planning to triple the amount of loan disbursements to small and medium enterprises in next financial year, according to a report in the Myawady Daily yesterday.

JICA has disbursed Ks50 billion in SME loans this financial year and intends to provide Ks150 billion next year.

“There is a high demand for JICA loans,” said Daw Aye Aye Win, the director-general of SME Development Department. “We will have to lend about Ks100 million to each SME instead of lending Ks500 million each,” JICA will provide SME loans to reduce import and promote exports.

JICA has granted a total of Ks5 billion in loans to 11 SME businessmen for the first time, and a total of Ks30 billion loans to 179 SME businessmen for the second time in this financial year. JICA provided the loans through six local banks.
Ref; The Global New Light of Myanmar

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