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.
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
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/