The meeting of Working Committee to address the impact of COVID-19 on the national economy (1/2024) was held this morning at Office No. (1), Ministry of Investment and Foreign Economic Relations.

The meeting was chaired by Dr. Kan Zaw, Union Minister for Investment and Foreign Economic Relations and attended by the members of the Working Committee; Deputy Ministers for Ministry of Investment and Foreign Economic Relations, Ministry of Labour and Ministry of Commerce. Moreover, Permanent Secretaries and Senior Officials from the Ministry of Transport and Communications, Ministry of Planning and Finance, Ministry of Commerce and Ministry of Hotels and Tourism also attended the said meeting.    

The meeting discussed reimbursement status of 50 billion kyats to State Revolving Fund and repayment of 10 billion kyats from 150 billion kyats which was issued from 2019-2020 Fiscal Year General Reserve Fund (GRF). The total figure of repayment amount 60 billion kyats is informed to the meeting. The efforts made by Regional/ State Credit Supervision Teams to collect loan principal, loan repayments situation by businesses which have completed 3 years of loan term and one year loan extension to the businesses from Film, Music, Theatrical, Press and Media Sector are also updated at the meeting.

Moreover, Secretary of the Working Committee, Deputy Minister for Investment and Foreign Economic Relations, Dr. Wah Wah Maung discussed detailed loan repayment monitoring situations in Regions and States and collaboration with concerned Ministries, Credit Supervision Teams as well as the situation of capital and interest return.

The meeting also discussed the process to be carried out by the committee, overdue loan recovery plans and procedures, cooperation and collaboration with the departmental concerned.