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Myanmar

TRANSFORMING COMMUNITIES IN MYANMAR

MYANMAR IS ASIA’S SECOND POOREST ECONOMY. BUT IT’S CURRENTLY EMERGING FROM A LONG PERIOD OF ISOLATION. ITS PEOPLE ARE RICH IN DIVERSITY, TALENT AND AMBITION AND WE ARE WORKING CLOSELY WITH THEM TO HELP UNLOCK POTENTIAL; TRANSFORMING COMMUNITIES INTO MICRO-ECONOMIES.

We have been offering microfinance and other financial services to poor people in Myanmar since 1998. Through our work, we help small business owners create or develop small businesses with affordable credit. Owning a small business provides financial security to a family. It enables them to increase their household income and to improve their quality of life. The children of our borrowers enjoy better health, nutrition and education.

We have 13 service centres in key rural areas. We also work in two of the country’s primary economic hubs; Yangon and Mandalay. To date, we have disbursed over 140,000 loans amounting to nearly US$18 million. This means that 50,000 households and 137,000 children have benefited from our work; and communities have been transformed. US$2 million of client funds have been used for local projects including constructing schools, building roads and supporting healthcare.   

 

Working in Myanmar

Over 60 million people live in Myanmar. Most of its population is involved in agriculture related work. It shares its borders with five countries and is in the early stages of integrating itself into the global economy.

The United Nations estimates that the microfinance industry in Myanmar is currently meeting only 10% of those who could benefit from it. Analysts estimate a further four million people need affordable credit to create their own sustainable income. 

We are the second largest microfinance provider in Myanmar, and one of the few recognised and licensed NGO institutions endeavouring to fill the credit gap. As a result, we have doubled our loan portfolio over the past 12 months. Despite this growth, we still need to expand our services to meet the needs of the working poor and their families.

Awards and Ratings

  • Please come back soon for a full update on the MFI's current awards and ratings.

Future Innovation

Our MFI in Myanmar continuously applies an innovative approach to best meet the needs of the communities in which we work. Recent and upcoming products include:

  • Family life insurance coverage for the borrower, spouse and children;
  • Education loans for parents with children in primary, middle and high school;
  • Home gardening loans for small scale farmers producing vegetables and flowers for resale;
  • A local investment program supporting community based projects.

Client Success Story

Daw Kyi Kyi Win received business and financial training from our MFI when she took out a loan. She has since built a successful grocery store.

‘I can now pay for my three children’s education. Moreover, I can provide school support to two children in our community whose parents do not have the money to send them to school’, says Daw Kyi Kyi Win.

Management Details

MFI Structure

Neal Youngquist has supported our microfinance program in various roles since 2009. In 2011, he was appointed as General Manager. 

Prior to joining us, Mr Youngquist worked in consultancy, management, training and advisory positions for social enterprises and microfinance institutions in Asia and Africa.

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