Denmark’s RBF will provide its fourth loan to Myanmar enterprises for an amount of MMK 1.13 billion (approximately USD 750 K). The RBF is part of the Danish Development Assistance to Myanmar, which praises mutually binding partnerships. The fund intends to accelerate the development of small- to medium-sized enterprises (SMEs) in the country. Additionally, it also endeavours to increase the competitiveness between enterprises.
Local SMEs can apply for a grant between 1st July and 22nd July 2019. They should seek to implement innovative projects in sectors such as energy efficiency, waste treatments, and managerial skills for instance. Moreover, eligible SMEs should employ less than 600 people and own less than MMK 1 billion in paid-up capital.
Currently one can find more than 73,000 SMEs registered under the Ministry of Industry. Altogether they amount for roughly 90 percent of enterprises in Myanmar and constitute the backbone of the economy. The government has already provided more than MMK 30 billion (USD 19.9 million) in loans to bolster economic activity among SMEs. The conspicuous spill-over effect will be to stir up employment creation and innovation.
