Myanmar MFI Senior Loan Facility (IFC-38034)

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
U
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
MYANMAR MFIS
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.
Project Cost (USD)
$ 21.00 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 Nov 20, 2017

Disclosed by Bank Mar 29, 2016


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project 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
  • International Finance Corporation (IFC)
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
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/