VisionFund Myanmar provides financial services to families affected by earthquake

VisionFund Myanmar has started providing financial services to support the recovery of families affected by the devastating earthquake that hit Central Myanmar last March 28.  

The earthquake response includes providing access to credit, savings, and financial and digital literacy training. 

“Our hearts go out to families hit by this disaster. Many of our clients have lost not just their homes, but also their means to earn a living. We are committed to serving these families as they begin the difficult journey of recovery by helping them rebuild with hope and dignity, VisionFund Myanmar Chief Executive Officer Mai Mya Mya Win said. 

In the next three months, VisionFund Myanmar will disburse more than 1,000 loans, averaging $380, that families can use for emergency needs, housing repairs, and livelihood restoration.  

Recovery lending is the practice of providing small loans to people and businesses within communities in the aftermath of a disaster. VisionFund Myanmar said they will ensure to provide affordable, flexible financing, and restructuring options for families to support their ongoing recovery. 

“Our approach is grounded in deep understanding and compassion for families so that financial services are not just accessible but also supportive and tailored to each family’s unique recovery,” Mai Mya Mya Win said.  

“These response efforts are built on our years of experience serving conflict-affected communities, where we’ve seen firsthand how the right financial tools can restore hope and accelerate recovery,” she added.  

VisionFund Myanmar is currently operating in 12 townships and 528 villages across the Mandalay and Sagaing regions, serving nearly 9,000 clients with over 8,000 children. 

Initial assessments by VisionFund Myanmar in Mandalay and Sagaing regions showed the urgent need for house repairs before the rainy season arrives. Production businesses also stopped due to lack of electricity. Several grocery stores and small shops also collapsed, while farms and crops were destroyed due to the overflow of underground water. 

VisionFund Myanmar estimates a funding need of $1.2 million to support the recovery lending of 9,000 families and uplift the lives of 8,000 children in the affected areas.   

VisionFund is the financial inclusion arm of World Vision, the global Christian relief, development, and advocacy organisation dedicated to helping children, families, and communities overcome poverty and injustice.   

The organisation provides financial inclusion services through affordable loans, savings, insurance, and financial education to vulnerable, primarily rural communities in 25 countries, including Myanmar.