YANGON – The European Union has offered an update on the performance of its Rapid Response support fund, which it launched in April to provide aid to workers in Myanmar’s garment manufacturing industry, and says that thus far upwards of US$4bn has been dispersed to those in need.
Transferred via the Wave Money banking platform, more than 70,000 transactions have been made to date, with more in the pipeline as the scheme’s deadline is extended until the end of November.
Reports suggest that the country’s ready-made garment (RMG) sector continues to struggle however, with research from SMART Myanmar highlighting that many are finding it hard to regain full-time employment whilst the coronavirus saga rumbles on.
