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Burma Government to Lend $20M to Small and Medium Enterprises

13 March 2014

The Burma government’s Small and Medium Industrial Development Bank (SMIDB) will lend 20 billion kyat, or more than US$20 million to entrepreneurs and smaller businesses in the upcoming fiscal year, state media reports. The New Light of Myanmar said Thursday that SMIDB had already disbursed 10 billion kyat to 62 entrepreneurs, and so far has 12 branches nationwide. The government would open four new branches and increase lending from April 1, the report said. “[The] small and medium scale enterprise law has been put forward to the Parliament and is expected to be enacted in near future,” it said.