VisionFund Myanmar Co
BIO has given a USD 6 M loan to VisionFund Myanmar, one of the largest MFI operating in Myanmar which aims to empower women to build secure livelihoods.
Type of investment
- Local economic growth
- Financial inclusion
- Food security & rural development
VisionFund Myanmar Co
VisionFund Myanmar (VFM) is one of the largest MFI operating in Myanmar with the widest geographic spread. Although its operations started out mostly urban-based, it now focuses on rural lending and its portfolio is split evenly between urban and rural. Now, VFM has 59 branches nationwide and is active in every state and division apart from Bago, Naypyidaw and Chin. VFM has opened its branch in Kyauk Phyu in March 2020. VFM has planned to open in Naung Cho, Mohniyn, Mogaung and Tachileik in fiscal year 2021.
Local economic growth
Purpose of the investment is to support the further growth of the institution's MSME portfolio and aim for financial inclusion of the poorest and weakest groups in Myanmar.
The main objective of the MFI is to increase financial inclusion in Myanmar.
Main products are business and agriculture loans, representing 90% of the portfolio.
In January 2020, the MFI launched a new loan product designed for migrant workers in garment factories which aims to help them manage their monthly cash flow, support secondary sources of incomes, and livelihood development for their families.
Food security & rural development
VFM has the widest geographic spread, positioned to grow significantly in rural areas. As of August 2020, 62% of clients are in rural areas. VFM plans to expand its network to over 100 branches, with the majority in rural areas in next FY.
With a focus on the empowerment of women to build secure livelihoods, their children and their families, 85% of their outstanding loan portfolio are women.
Read impact and news about this project
BIO has given a USD 6 M loan to VisionFund Myanmar, one of the
largest MFI operating in Myanmar which aims to empower women to build
Daw Saw Saw Win is one of these empowered women. This is her story.
Story sourced from VisionFund Myanmar.