Myanmar requires up to $3b for microfinance programmes

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Myanmar microfinanceTo set up its planned microfinance programme in 60,000 villages across the country in order to fight rural poverty, Myanmar will need up to $3 billion, the country’s Cooperatives Minister said at an event in the capital Naypyitaw on July 6.

“We are trying to be able to provide loans for the people in over 60,000 villages by the end of 2015. This will require up to 30,000 billion kyats or $3 billion,” Kyaw San, Minister for Cooperatives, said.

“We are seeking to raise that amount of capital internally. However, as it is not sufficient, we will also need international cooperation,” he added according to a report by Eleven Myanmar.

The micro credit facilities are meant to be used to upgrade agricultural and farming businesses and facilitate value-added manufacturing and service businesses.

The minister also called for the private sectors to cooperate with foreign partners in improving their agricultural methods and promoting the whole commodity supply chain.

 

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Reading Time: 1 minute

To set up its planned microfinance programme in 60,000 villages across the country in order to fight rural poverty, Myanmar will need up to $3 billion, the country’s Cooperatives Minister said at an event in the capital Naypyitaw on July 6.

Reading Time: 1 minute

Myanmar microfinanceTo set up its planned microfinance programme in 60,000 villages across the country in order to fight rural poverty, Myanmar will need up to $3 billion, the country’s Cooperatives Minister said at an event in the capital Naypyitaw on July 6.

“We are trying to be able to provide loans for the people in over 60,000 villages by the end of 2015. This will require up to 30,000 billion kyats or $3 billion,” Kyaw San, Minister for Cooperatives, said.

“We are seeking to raise that amount of capital internally. However, as it is not sufficient, we will also need international cooperation,” he added according to a report by Eleven Myanmar.

The micro credit facilities are meant to be used to upgrade agricultural and farming businesses and facilitate value-added manufacturing and service businesses.

The minister also called for the private sectors to cooperate with foreign partners in improving their agricultural methods and promoting the whole commodity supply chain.

 

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