The Netherlands Development Finance Company, a public-private partnership also known by its Dutch acronym FMO, recently disbursed a five-year loan of USD 15 million to Pact Global Microfinance Fund (PGMF), a microfinance institution in Myanmar. The goal is to support microenterprises facing escalating income inequality due to the COVID-19 pandemic. The organization’s “commitment to invest in business with women
Tag: Myanmar
MICROCAPITAL BRIEF: Maha Agriculture Borrows $6m from FMO for Digital Microfinance in Myanmar
The Netherlands Development Finance Company, which also is known by its Dutch acronym FMO, recently disbursed a loan of USD 6 million to Myanmar-based microfinance institution (MFI) Maha Agriculture Public Company Limited to be on-lent as microloans in rural Myanmar. The goal of the loan is to support small-scale farmers
MICROCAPITAL BRIEF: Proximity Finance Raises $14m in Equity from Finnfund, Nordic Microfinance Initiative, Proparco to Support Farmers in Myanmar
Proximity Finance, a unit of Myanmar-focused social enterprise Proximity Designs, recently agreed to a package of equity investments totaling USD 14 million in equal shares from three European institutional investors, Proparco (Promotion et Participation pour la Coopération Économique), the Nordic Microfinance Initiative (NMI) and Finnfund. The deal, which is pending regulatory approval, would support Proximity Finance’s services to small-scale, rural farmers in Myanmar, including plans to disburse 1.5 million loans within four years and expand
MICROCAPITAL BRIEF: Wave Money – Joint Venture of Telenor, Yoma – Raises $74m in Equity from Ant Financial for Mobile Money in Myanmar
Ant Financial Services Group, a member of the China-based Alibaba Group that operates the online payment service Alipay, recently agreed to invest USD 73.5 million in Wave Money, a joint venture of the Telenor Group and the Yoma Group that provides digital financial services in Myanmar. Ant Financial will take a “substantial minority stake” in Wave Money, which seeks
MICROCAPITAL BRIEF: Grameen Crédit Agricole Foundation Loans $2.4m to Vision Fund Myanmar, Phare Performing Social Enterprise of Cambodia
The Luxembourg-based Grameen Crédit Agricole (GCA) Foundation recently issued loans of EUR 1.8 million (USD 2.0 million) to VisionFund Myanmar, a member of VisionFund International, and the equivalent of USD 367,000 to
MICROCAPITAL BRIEF: MCE Social Capital Funding $3.3m Loan from Yoma Bank to Proximity Finance for Microfinance in Myanmar
Myanmar-based Yoma Bank recently agreed to lend MMK 5 billion (USD 3.32 million) to Proximity Finance, a microfinance institution (MFI) operating in Myanmar. MCE Social Capital, a US-based NGO, is funding
MICROCAPITAL BRIEF: Microfinance Institution VisionFund, UK Department for International Development (DFID) to Expand Mobile Banking in Rural Myanmar
VisionFund Myanmar, a microfinance institution (MFI) operating within the nonprofit VisionFund International, is partnering with the UK’s Department for International Development (DFID) on a USD 1.7 million project to expand mobile banking in Myanmar. The effort is intended to provide