News

World Bank to loan $100 million to Myanmar financial development project

World Bank and government representatives recently signed an agreement for a US$100 million (K134.9 billion) World Bank loan to the Myanmar Financial Development Project in mid-April. The representatives signed the loan for SDR71.700 million, which equals US$100 million, from the World Bank with low interest. Ulrich ...

Central bank turns the spotlight on loan favouritism

The Central Bank of Myanmar has accused private banks of granting loans to individuals connected with bank directors. But some businessmen disagree with CB that the banks are self-serving. The Central Bank is investigating the activities of private banks, Director General U Win Thaw told ...

Tax cut planned for low-cost housing purchases

The government is planning to drastically reduce the taxes it levies when people purchase state-commissioned low-cost housing, which developers say puts many units out of reach for ordinary buyers. Union Planning and Finance Minister U Kyaw Win, in a speech to developers and business leaders ...

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