Government assistance for accessing business loans

A scheme to help small and medium-sized enterprises (SMEs) apply for a bank loan in Yangon is set to launch after data collection is completed.

Announced at the Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) in August by Yangon Chief Minister U Phyo Min Thein, the project will be welcomed by SMEs.

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World Bank urges Myanmar government to implement changes in finance sector

A report (called the Observance of Standards and Codes or ROSC) from the World Bank and International Money Fund (IMF) has just been released.

Among its findings were that the revisions the government has made to its statutory institutional framework for accounting and financial reporting will align the country much more with international good practice. It praised the ‘good progress’ that has been made with the suggested amendments to the framework, but notes that these changes are yet to be finalised.

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