17 July 2025
Daw Than Than Swe, Chairwoman of the Central Committee for Fund Supervision and Governor of the Central Bank of Myanmar, announced at the inaugural meeting of the Central Committee for Fund Supervision regarding the Reconstruction of Areas Affected by the Powerful Mandalay Earthquake that 700 billion kyats will be loaned at low interest rates to help rebuild homes, micro, small, and medium enterprises (MSMEs), industries, and large-scale enterprises in the areas affected by the earthquake.
The State Council for Economic and Financial Affairs established the Central Committee for Fund Supervision on July 7 and the Fund Management Working Group on July 11. The purpose of this fund is to provide low-interest loans to assist businesses damaged by the earthquake in resuming operations quickly, rebuilding homes, and improving living conditions, according to the Central Bank Governor.
The special loan program for earthquake-affected areas will be offered through banks and non-bank financial institutions under the guidance of the State Government. The total amount available will be 700 billion kyats.
The interest rates for the loans are set as follows: 3 percent for the reconstruction of buildings and houses, 5 percent for the working capital of MSMEs and industrialists, and 7 percent for machinery and investment costs of large factories as well as for bridging loans for construction entrepreneurs. The Central Bank Governor emphasized the necessity of being vigilant to prevent any losses, given that these loans are funded by the state.
The powerful Mandalay earthquake, which occurred on March 28, 2025, caused significant damage in the Union Territory of Nay Pyi Taw, the Mandalay Region, Sagaing Region, Magway Region, Bago Region, and northeastern Shan State.
#CBM #MSME #Earthquake #mtnewsupdate
