According to the IFC, the proposed project consists of an equity investment of up to US$3 million in KEB Hana Microfinance Ltd., a deposit taking microfinance company in Myanmar, and a MMK denominated senior loan of up to US$10 million equivalent for a tenor of up to 5 years to KHMF for on-lending to micro enterprises in Myanmar. Through the investment, IFC will support KHMF’s growth of its micro and very small enterprise (“VSE”) loan portfolio, which increases financial inclusion and reduces poverty in Myanmar. The Company focuses on extending small loans to support the financing needs of the lower-income population, especially women, across Myanmar.

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

An extended list of private actors is available in a separate file. 

Established in 2013, KEB Hana Microfinance Ltd. is sponsored by Hana Financial Group through its subsidiary KEB Hana Bank, which is one of the four largest banking groups in Korea and is rated A1 by Moody’s, A- by Fitch, and A+ by S&P. The current main shareholders of KHMF are: (i) KHB with a 99.998% shareholding, and (ii) the Company’s managing director, Mr. Lee Jeung Sae with a 0.002% shareholding. KHMF focuses on extending small loans to support the financing needs of low-to-mid income borrowers, especially women, through 20 sale units in 6 states in Myanmar.            

KEB Hana Microfinance Limited
Park Soo Hyun, Director
soohp@hanamicrofinance.com
404(B), Pearl Condo, Kabaaye Pagoda Road, Bahan Township, Yangon

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/