Microfinance in Myanmar: A Silver Bullet to Stamp out Poverty?

  The passing of the Microfinance Law in 2011 led to a rapid influx of Microfinance Institutions (MFIs) in Myanmar. As of December 2015 there were over 256 MFIs operating in Myanmar, all competing to crack the estimated 33 million unbanked residing here. It is believed informal money lenders charging extortionate interest rates will become […]

Loans elude fish farmers who lack land ownership documents

FISH farmers are facing difficulties obtaining loans for independent fish-breeding activities as fish ponds in Myanmar lack land ownership documents, according to the Okkar Maung Livestock and Fisheries Production and General Trading Cooperative. “Seventy-five per cent of fish breeding enterprise expenses go toward [fish] feed. Independent fish farmers in Myanmar are currently having a spot […]

ASA Microfinance Plans Expansion; to Invest $30 Million by 2019

As part of its efforts to eradicate poverty the current government allowed foreign microfinance companies to operate in Myanmar since 2012. The Netherlands-based microfinance firm Association for Social Advancement (ASA) Microfinance received a licence to operate in Myanmar in August 2014. “Our purpose of coming to Myanmar is not only getting profit from loans, but […]

ADB to Loan $100 Million to Upgrade Road in Kayin on GMS Corridor Route

The Asian Development Bank (ADB) has approved a $100 million loan to improve a 66.4 kilometre section of road connecting the towns of Eindu and Kawkareik in Kayin state, dubbed as the missing link of the Greater Mekong Subregion (GMS) East-West Corridor. The Manila-based lender said the project will improve the existing two-lane road in […]

Department of Rural Development invites open tender for the procurement of motorcycles; Closing Date: Oct 26th, 2015

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. SPECIFIC PROCUREMENT NOTICE (PROCUREMENT OF GOODS / WORKS) REPUBLIC OF THE UNION OF MYANMAR NATIONAL COMMUNITY DRIVEN DEVELOPMENT PROJECT- NCDDP Loan No./Credit No./ Grant No.:H-814MM Contract Title: MOTORCYCLES 105cc (LOW CLEARANCE) Reference No. : ICB G 17 (a) […]

Banks need incentive to take grain instead of gold

Two domestic banks have agreed to offer loans backed by commodities, allowing farmers to pledge items like beans and pulses as collateral for access to competitively priced financing for the first time. However, the appeal of warehouse receipt financing may be limited, as capped interest rates mean the lenders have little incentive to take on […]

Apex to lend against farm permits

Myanmar Apex Bank will begin allowing farmers to access bank loans by using their work permit certificates as collateral, according to bank chair U Chit Khine. The Form-7 certificates were created with the 2012 Farm Land Law, functioning as a farmland work permit certificate for people with the right to farm a particular plot of […]

Condo Law sent back to the drawing board

Weaknesses in the recently completed draft Condominium Law need to be addressed before it can be promulgated, according to officials from the Department of Human Settlement and Housing Department (DHSHD). Although it is targeted to become law this year, some in the industry have pointed to a number of problems with the current draft. Virtually […]

Gov’t to Spend Almost K1 Billion to Develop Sagaing Animal Husbandry

The Ministry of Livestock, Fisheries and Rural Development will provide K960 million in loans to develop animal husbandry in the villages of Sagaing region, according to Dr Myint Soe, assistant director of Livestock and Veterinary Department of Sagaing region. Each of the 32 villages will get a loan of K30 million, and those who breed […]

JICA to offer SME Loans

The Japan International Cooperation Agency (JICA) is planning to provide loans for small and medium- sized enterprises (SME) in Myanmar, according to the vice president for the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). “At least Ks 3 billion is set aside for the loan fund. JICA will provide the fund […]