Myanmar requires up to $3b for microfinance programmes

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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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. "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...

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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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