Wave Money has officially announced a collaboration with Yoma Bank Ltd to boost the development of micro, small and medium enterprises (MSMEs) in Myanmar. Through the collaboration, Yoma Bank provides unsecured, instant credit to Wave Money agents to help these agents operate their businesses more productively. Wave Money is a joint venture between telecommunications company […]
Myanmar to use US$1 billion loan for infrastructure projects
September 18, 2019 by
Economic development, agriculture, electricity, and infrastructure projects will be the focus of a framework for loans between South Korea and Myanmar. On September 3, Union Minister for Investment and Foreign Economic Relations U Thaung Tun and South Korea’s Minister for Foreign Affairs Ms Kang Kyung-wha signed the framework agreement under which South Korea will provide […]
KB Kookmin Bank to provide home loans to low income households
September 17, 2019 by
South Korea’s KB Kookmin Bank will participate in developing a government-funded residential complex for low income households in Yangon, Kim Chang-woo, chief representative of KB Kookmin Bank Yangon Representative Office, told The Myanmar Times. KB Kookmin Bank and Yangon Region Government signed a Letter of Intent to support the project during South Korean President Moon […]
Invitation for Bids – Yangon Mandalay Railway Improvement Project Phase II, Deadline: 18th October, 2019
September 4, 2019 by
The Republic of the Union of Myanmar Yangon Mandalay Railway Improvement Project Phase II Invitation for Bids Date: 4th September 2019 Loan Agreement No: MY-P26 dated 29th March 2018 IFB No: IFB-MR/BD/2110 The Government of the Republic of the Union of Myanmar has received a loan from Japan International Cooperation Agency (JICA) towards the cost […]
Myanmar initiates low-cost housing for squatters in Yangon
August 30, 2019 by
Myanmar’s Yangon regional government has initiated a project of developing apartments on state-owned land to tackle the issue of squatters and the project will be implemented in September, according to the office of the regional government on Wednesday. “The regional government will offer a long term installment payment plan to squatters to help them purchase […]
Growing mobile penetration gives Myanmar fintech a big boost
August 26, 2019 by
Financial technology services in Myanmar have boomed following an increasing number of mobile users, according to a report from Fitch Solutions Macro Research. The rise in mobile subscribers began after the government opened up the telecommunications sector in 2014, though enforced supportive regulations and point-of-sale (POS) payment solutions are still lagging behind. Fitch Solutions, a […]
Malaysian bank branch provides US$3m loan to microfinance fund
August 21, 2019 by
Kuala Lumpur-based Malayan Banking Berhad (Maybank) has signed an agreement with Hayman Capital, a Myanmar microfinance institution (MFI), to provide US$3 million loan for the latter’s operation expansion. The loan will be for two years and the necessary regulatory approvals from both the Central Bank of Myanmar and the Financial Regulatory Department under the Ministry […]
Kargo cuts out middleman to simplify goods transport
July 5, 2019 by
Kargo, a Yangon-based start-up founded by Australian Alexander Wicks in September 2016, is out to simplify a fragmented transport and logistics market and an opaque pricing structure for transporting goods in Myanmar. The company, which aims to directly link transport and logistics firms with customers, received US$800,000 in pre-Series A funding from Singapore-based Cocoon Capital […]
Myanmar to borrow more than 1.4 billion baht for more electricity
May 21, 2019 by
The Pyidaungsu Hluttaw has approved the borrowing of 1.4 billion baht from Thailand’s Neighbouring Countries Economic Development Cooperation Agency (NEDA) to supply more electricity in Yangon Region. With this loan, the Ministry of Electricity and Energy will make sure that Yangon’s power distribution system is improved and the frequency of power shortages reduced, said deputy […]
Survey finds 37% of families can’t afford health emergency
March 19, 2019 by
More than 35 percent of Myanmar households are not ready to shell out K200,000 (US$130) for emergency health care, according to Asia Foundation’s City Life Survey 2018. The foundation conducted the survey of 2414 people in 228 wards of Yangon, Mandalay, Monywa, Taunggyi and Mawlamyine cities from September to October 2018. It said that up […]
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