The International Finance Corporation (IFC) is considering investing a further US$87 million in Yoma Micro Power to help Myanmar supply electricity to remote off-grid communities and reduce its carbon emissions. Part of the World Bank Group, the IFC said it had proposed arranging a loan package of $80 million to the energy firm, which builds […]
Governance guide for micro lenders launched
December 16, 2019 by
The International Finance Corporation (IFC) has launched a handbook aiming to improve governance and risk-management practices in microfinance institutions (MFI) in Myanmar. The IFC, a member of the World Bank Group, developed the resource guide – Implementing Corporate Governance Practices: A Resource Guide for Microfinance Institutions in Myanmar – as many MFIs lack the resources […]
Solar could lower power costs for local business, IFC study reveals
November 22, 2019 by
Distributed solar solutions can help businesses in Myanmar bring down their power costs and climate impacts, a study by the International Finance Corporation (IFC) reveals. The study estimates that there are more than 700 megawatts worth of potential commercial and industrial solar projects in Myanmar, which is equivalent to around 10 percent of the country’s […]
IFC takes stake in Yoma Bank in first for Myanmar
June 24, 2019 by
Yoma Bank has become Myanmar’s first commercial lender with a foreign stakeholder following a decision by the International Finance Corporation (IFC) to convert a US$5 million loan into a five percent equity shareholding. The IFC, the investment arm of the World Bank Group, provided the convertible loan package to Yoma Bank in 2014 to help […]
Sowing the seeds of growth in Myanmar
June 7, 2019 by
Once the rice bowl of Asia, even today, agriculture continues to be a vital contributor to Myanmar’s economy.The sector provides employment to about 53 percent of the country’s labor force and is a source of livelihood for about 70 percent of the rural population.It also contributes almost 38 percent of the country’s gross domestic product, […]
Myanmar produces first corporate governance scorecard
May 20, 2019 by
Myanmar companies need to improve their business practices to become more competitive in local and regional markets, a new report shows. The Myanmar Corporate Governance Scorecard 2018 is the first report of its kind in the country and assesses the performance of 24 companies in the country. It is published by the International Finance Corporation […]
IFC extends $3 million loan to SLCM Limited
April 12, 2019 by
KOLKATA: IFC is providitTng a $3 million loan to SLCM Limited, the Yangon-based subsidiary of Sohan Lal Commodity Management, a Delhi-based agrilogistics group. The aim is to help the company expand its warehousing services and allied services, in Myanmar, thereby improving the livelihoods of the rural population that rely on agriculture. In Myanmar, despite poor […]
New labour law paves way for worker safety standards
April 5, 2019 by
Myanmar’s parliament has enacted the Occupational Safety and Health (OSH) Law to promote safe and secure working environments for labourers and workers. The new law, signed by President U Win Myint on March 15, is expected to pave the way for the first legally-established health and safety standards in the country. It stipulated that OSH […]
Metro’s Myanmar subsidiary secures US$20m IFC loan
March 8, 2019 by
The Myanmar subsidiary of German retail group Metro AG has raised a US$20m loan from the International Finance Corporation, the private-sector arm of the World Bank. The subsidiary Metro Wholesale Myanmar is a 85pc-15pc joint venture between Frankfurt-listed Metro AG and Singapore-listed Yoma Strategic Holdings, offering one-stop wholesale food service distribution for hotels, restaurants, retailers, […]
MBF signs K2 billion funding agreement with Yoma Bank
February 6, 2019 by
Mahar Bawga Finance (MBF), a Myanmar non-banking finance institution (NBFI), and Yoma Bank last Friday signed a semi-collateralised funding agreement under which Yoma will provide MBF with K2.2 billion in funds to support its operations. The agreement, which aims to address growing borrower demand for unsecured loans for personal or business development, could see MFB […]
