Proximity Finance

Debt : July 2020

Proximity Finance is a rural MFI offering agri-specialised products and services to smallholder farmers in Myanmar.

Amount

€ 2,620,080.00

Type of investment

Debt

Development impacts

Local economic growth
Financial inclusion
Food security & rural development
Gender

Beneficiary locations

Asia: Myanmar

Investment field

Financial Institutions

Activity

Microfinance Institution

Organisation

Proximity Finance

Website

https://proximitydesigns.org/

Domicile

Myanmar

Proximity Finance (PF) is a rural MFI that designs and delivers a suite of affordable agri-specialized products and services to smallholder farmers in Myanmar (average loan of USD 217). The for-profit legal structure was activated in December 2018, following the split of Proximity Designs (a US NGO that had been active for 15 years in Myanmar and since 2010 in microfinance) in two legal structures; the first dedicated to microfinance (Proximity Finance) and the second specialized in agri advice/equipment (Proximity Designs).

Development impacts

Local economic growth
Purpose of the investment is to support the further growth of the institution's MSME portfolio, mainly in the agriculture segment.
Financial inclusion
Institution's main objective is to increase financial inclusion in Myanmar (improved access).

Main products are the agriculture loans, funding the agricultural activities of their clients.
Food security & rural development
Given Myanmar's vastly underserved rural population, rural development is one of their core missions.
Gender
Majority of their customer base is female.