UNDP Myanmar in collaboration with the Directorate of Industrial Supervision and Inspection (DISI) of the Ministry of Planning, Finance and Industry are technically supporting MSMEs from Yangon, Sittwe and Mandalay to prepare and submit loan applications to COVID19 Fund set up by the Government of Myanmar at 1% rate of interest for a one-year period. The K100 billion Fund has been set up to provide immediate loans to enterprises designated in priority sectors hit hard by the COVID-19 shock. The categories include Cut Make Pack (CMP) enterprises, hotels and tourism, and small and medium enterprises.

Since the launch of the call for applications on 1 April 2020, 181 loan applications have been submitted with UNDP’s technical assistance. The deadline for the submission of the application was 9 April 2020.

“I received technical support on preparing financial statement and cash flow from UNDP which was very helpful for me” – U Shin & Son, Car Body Repair, Mandalay

“UNDP’s support has helped me to understand clearly the criteria and putting together the necessary documents for application. This kind of technical support is very important for the small and medium enterprises like us who do not have the capacity to apply in the short window of time”- Su Pyae Food Center, Yangon

UNDP Myanmar supports the promotion of inclusive businesses and the strengthening of the enabling environment for micro and small businesses to benefit from national, regional and global economic opportunities.  The Myanmar Sustainable Development Plan (MSDP) notes that SMEs are vital for private sector-led economic growth and are essential for sustained, broad-based job creation. Development of SMEs, including small-to-medium industries (SMIs) is a MSDP policy priority.