BUSINESS – Burmese SMEs in line for bank loans

Thailand-based Small and Medium Enterprises Development Bank has pledged for provide 20 billion kyat (US$20 million) this year in loans for small and medium businesses in Burma starting from 27 August. According to an announcement by the bank last week, a business can apply for a loan of 20 million to 50 million kyat at an interest rate of 8.5 percent. More than 120,000 SMEs are registered in Burma making up over 99 percent of the country’s enterprises.