This is the second part of a two-part paper on the joint channel estimation and resource allocation problem in MIMO systems with noisy channel estimation at the receiver side and partial CSI, in the form of covariance feedback, available at the transmitter side.We consider transmit-side correlated MIMO channels with block fading, where each block is divided into training and data transmission phases. In this paper, we extend the single-user results of Part I to the multiple access channel. For the data transmission phase, we propose an iterative algorithm to solve for the optimum system resources such as time, power and spatial dimensions. This algorithm updates the parameters of the users in a round-robin fashion. In particular, the algorithm updates the training and data transmission parameters of a user, when those of the rest of the users are fixed, in a way to maximize the achievable sum-rate in a multiple access channel; and iterates over users in a round-robin fashion. Finally, we provide a detailed numerical analysis to support the analytical results of both parts of this two-part paper.