Through the Covid-19 fund, the government has so far loaned Ks7.145 billion to 168 hotel businesses, Ks1.899 billion to 107 tourism companies and Ks1.466 billion to 58 restaurants totalling over Ks10 billion to 333 businesses, said Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations.
The Ks100-billion fund has disbursed loans of Ks25 billion in four batches focusing on three sectors in order to remedy the impact of the disease.
Plans are also underway to give the fifth loan.
According to the financial review report (3/2020) regarding the additional budget for the 2019-2020 financial year released by the Joint Public Account Committee, Ks13.739 billion from the Covid-19 fund had been loaned to the local businesses affected by the Covid-19 outbreak.
A task force has been formed to scrutinize loan seekers. Till May 7, loans were provided in the first three batches for some of 4,000 applicants. The remaining applications are under still scrutiny.
