MICROCAPITAL BRIEF: Myanmar (Burma) to Spend $333k to Establish Microfinance Programs in Rural Townships

The Myanmar government is setting up microcredit schemes in the townships of Pale, Yinmabin, Salingyi and Kani with the aim of providing capital to rural people. The microcredit schemes will reportedly be enabled to become nonprofit businesses over time. The government will disburse MMK 250 million (USD 333,000) for the project in December 2011. Officials are encouraging the formation of schemes for vendors, hawkers and daily-workers as well as the development of cooperatives. Myanmar has a total population of about 60 million, of which 70 percent live in rural areas.

By Cameron Milani, Research Associate

Sources and Additional Resources:

Xinhuanet, “Myanmar Plans Micro-credit Schemes in Northwestern State,” http://news.xinhuanet.com/english2010/world/2011-11/14/c_131245183.htm

MicroCapital Article, July 1, 2011: “MICRPCAPITAL BRIEF: Myanmar Plans Microfinance Expansion in Rural Communities,” https://www.microcapital.org/microcapital-brief-myanmar-plans-microfinanc

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