Myanmar MFI Senior Loan Facility (IFC-38034)

Countries
  • Myanmar
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 2, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MYANMAR MFIS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Project Cost (USD)
$ 21.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Sep 16, 2019

Disclosed by Bank Mar 29, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank documents, the project entails a senior loan facility of up to US$21 million, to provide three years local currency denominated senior loans to four to six interested microfinance institutions (MFIs) in Myanmar, to support them to obtain the scarce and much needed commercial debt financing, to reach more underserved micro, small and medium sized enterprises, and to contribute to job creation and inclusive development in the country.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The specific MFIs to be supported by the Project are to be finalized in later stage and investment information for each candidate MFI is to be disclosed separately.

The total project cost is estimated at approx. US$21 million in Kyat equivalent to provide senior loans of up to US$3-6 million in Kyat equivalent to each selected MFI.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Julie Fawn Earne
Senior Operations Officer, IFC
No. 57, Pyay Road, 6 ½ miles, Hlaing Township, Yangon
Telephone No.: + 95-1-654-824
E-mail Address: JEarne@ifc.org

Lingshu Liu
Investment Officer, IFC
15th Floor, China World Tower 2, No. 1 Jianwai Ave., Chaoyang Dist., Beijing 100004
Telephone No.: +86-10-5860-3022
E-mail: LLiu4@ifc.org

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/

How it works

How it works