BUSINESS - Burmese bank to offer industrial loans

The Myanmar Small and Medium Industrial Development Bank (SMIDB) is planning to lend 20 billion kyat (US$20 million) to industries in the country over the 2014-15 fiscal year, according to a Xinhua report on Thursday citing official sources. SMIDB has already granted 10 billion kyat to 62 Burmese entrepreneurs, the sources said, and a total of 12 branch offices of the bank have been opened across the country. Meanwhile, a Small and Medium Scale Enterprise Bill has been brought to parliament and is expected to be enacted in near future.