US Embassy in Yangon announces US$10million loan programme for Myanmar SMEs

State Counsellor Daw Aung San Suu Kyi’s visit to the United States illustrated the strong and growing friendship between Myanmar and the US, said US Ambassador to Myanmar Scot Marciel during a news conference at the US Embassy in Yangon yesterday.
“The United States is committed to supporting the people of Myanmar and their government in their pursuit of inclusive economic growth and development,” said the ambassador.
Ambassador Marciel and USAID Mission Director Teresa McGhie also announced that the U.S. government will back over US$10 million in new loans to small and medium enterprises in Myanmar, in keeping with last week’s pronouncement of a U.S.-Myanmar Partnership.
At a signing ceremony afterwards, the USAID Mission Director and representatives from ASA Microfinance (Myanmar) Limited, LOLC Myanmar Micro-Finance Company Limited, Myanmar Development Partners Company Limited, Pact Global Microfinance Fund and Proximity Designs inked an agreement on the loan guarantee program in the presence of the US Ambassador to Myanmar.
Implementation of the loan guarantee program is set to last for seven years in Myanmar, providing responsible financing for over 5,000 local businesses to grow and create jobs for people across the country. Ambassador Marciel yesterday reaffirmed the US’s commitment to a partnership with Myanmar that was insisted upon by President Barack Obama.—Win Nandar


Source: The Global New Light of Myanmar


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