Myanmar to allocate more fund to provide loans to vulnerable businesses

A child is seen carrying an umbrella next to a barricade set up around an area for the lockdown as a preventive measure against the spread of the coronavirus in Yangon on Saturday (May 2). - AFP

YANGON: Myanmar government has planned to allocate second batch of fund of 200 billion kyats (US$142.8mil) to disburse more loans to the businesses affected by the Covid-19 (coronavirus), according to Zaw Htay, spokesperson of President's Office on Saturday (May 2).

The government has been giving out loans to the most vulnerable businesses in the garment manufacturing sector, hotels and tourism as well as small and medium enterprises (SMEs) under the country's Covid-19 Economic Relief Plan since the first batch of fund of 100 billion kyats (US$71.4mil) was allocated last month.