The ninth meeting of the Working Committee to address the impact of COVID-19 on the country’s economy was held via video conference this morning.

The meeting was chaired by U Thaung Tun, Union Minister for Investment and Foreign Economic Relations. Members of the Working Committee Union Ministers, U Soe Win , U Thein Swe and Dr Than Myint, Governor of the Central Bank of Myanmar U Kyaw Kyaw Maung and representatives of the ministries concerned took part in the meeting.

The government established the K100 billion COVID-19 Fund to assist the affected hotels and tourism industry, CMP enterprises and SMEs in April 2020. In continuation of the measures, a second tranche of K100 billion will be provided by the State to affected enterprises in the agriculture, livestock, and fisheries and food processing sectors, agencies dealing with labour recruitment, vocational schools as well as export-oriented and import substitution industries. The meeting discussed matters relating to ways and means to expedite the process for the disbursement of loans from the COVID-19 fund.

The meeting also discussed the need to consider new strategies to meet the challenge posed by the spike in COVID-19 cases in recent weeks.

It has been reported that the government has provided a total of K1908.085 billion to mitigate the effects of COVID-19 on the country’s economy:

Photo - MNA

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