Maha MicroFinance (IFC-38031)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 2, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MAHA AGRICULTURE PUBLIC CO LTD
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 7.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 9, 2018

Disclosed by Bank Apr 13, 2016


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Project Description

The proposed project is to support Maha Agriculture Public Co. Ltd., a licensed microfinance institution founded in April 2013 in Myanmar, to develop an innovative, technologically-enhanced business model and grow its portfolio of loans and other financial services.

Investment Description
  • International Finance Corporation (IFC)

Maha was founded as a subsidiary of the Myanma Awba Group (“Awba” or the “Sponsor”), the market leader in agri chemicals (pesticides, herbicides, etc.) and fertilizers in Myanmar. Awba was founded in 1995 by the Managing Director / Group Chairman, Thadoe Hein, a highly respected and reputable business man in Myanmar, who is its majority shareholder too. Via a huge network of sales centers, dealers and selected key farmers, Awba ultimately reaches and serves around 3 million farmers across the Country. Maha will build on Awba’s strong brand recognition, and customer loyalty to address the significant and growing demand for financial services in Myanmar.

The proposed project consists of providing a financing package of up to US$7.5 million, comprised of: (i) up to US$1.5 million of equity in Maha; and (ii) up to US$6 million of senior loan.

Private Actors

Maha Agriculture Public Co. Ltd. is a licensed microfinance institution founded in April 2013 in Myanmar, to develop an innovative, technologically-enhanced business model and grow its portfolio of loans and other financial services.

Maha was founded as a subsidiary of the Myanma Awba Group, the market leader in agri chemicals (pesticides, herbicides, etc.) and fertilizers in Myanmar. Awba was founded in 1995 by the Managing Director / Group Chairman, Thadoe Hein, a highly respected and reputable business man in Myanmar, who is its majority shareholder too. Via a huge network of sales centers, dealers and selected key farmers, Awba ultimately reaches and serves around 3 million farmers across the Country. Maha will build on Awba’s strong brand recognition, and customer loyalty to address the significant and growing demand for financial services in Myanmar.

Contact Information

95-A, Kyaik Wine Pagoda
Road, Mayangone Township,
Yangon, Myanmar
No email provided.

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/