THE meeting of the Working Committee to address the impact of COVID-19 on the national economy 2/2024 was held yesterday at Office No 1, the Ministry of Investment and Foreign Economic Relations.

The meeting was chaired by Dr Kan Zaw, Union Minister for Investment and Foreign Economic Relations and attended by the members of the Working Committee, deputy ministers for Planning and Finance, for Investment and Foreign Economic Relations, for Labour and for Hotels and Tourism, and the deputy governor of the Central Bank of Myanmar. Moreover, permanent secretaries and senior officials from the Ministry of Transport and Communications and the Ministry of Commerce also attended the said meeting.

The meeting discussed the total reimbursement status of the K70 billion, which includes repayment of the State’s revolving fund K50 billion and K20 billion from the 2019-2020 Financial Year General Reserve Fund (GRF) K150 billion. The repayment period for loans to the Film, Music, Theatrical, Press and Media Sector has been extended by one year. The meeting discussed the process of collecting the loan from the COVID-19 fund and the process to be carried out.

Moreover, Deputy Minister for Investment and Foreign Economic Relations Dr Wah Wah Maung, in the capacity of the secretary of the Working Committee, discussed detailed loan repayment monitoring situations in regions and states and collaboration with concerned ministries, Credit Supervision Teams as well as the situation of capital and interest return.

The meeting also discussed the process to be carried out by the committee, overdue loan recovery plans and procedures, and cooperation and collaboration with the departmental concerned.

MIFER

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