In view of the storm caused by the new crown epidemic, the European Commission launched a “rapid response” assistance fund for Myanmar’s textile and garment industry, aiming to assist approximately 70,000 workers.
The MyanKu “Rapid Response” Assistance Fund is a €5 million (US$5.5 million) rapid response fund to support people across Myanmar affected by the COVID-19 epidemic. Most women in the garment industry are unemployed.
The fund’s organizers say the quick and unbureaucratic cash assistance will help workers pay for meals and avoid eviction.
The fund will be distributed by SMARTMyanmar, an EU-funded program that promotes “Made in Myanmar” clothing and practices sustainable development.
The IMF said: Our goal is to target approximately 70,000 unemployed and underemployed workers during the May-July period, when foreign orders are expected to decline significantly. Provide vital financial assistance to garment workers.
Among those who receive help, about 80% of “workers in crisis”, that is, workers who are unemployed or facing eviction, will receive assistance from the fund. In addition, the fund will also use a cash subsidy model to provide support to small and medium-sized enterprises (SMEs) that agree to retain workers and are willing to provide an equal amount of assistance.
