MAHA AGRICULTURE PUBLIC COMPANY LIM (FMO-58170)

Countries
  • Myanmar
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
C
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
Jul 27, 2020
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 COMPANY LIM
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)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 3.00 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)
$ 3.00 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 @ FMO website

Updated in EWS Aug 28, 2020

Disclosed by Bank Jul 27, 2020


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Project Description

According to the bank document, "the intended USD 6mln in MMK equivalent will further support Maha in reaching out to its farmers and small business owners in rural Myanmar. This project is a strategic good fit for MASSIF and FMO's strategies". 

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Maha is a deposit-taking financial service provider (licensed MFI) operating in rural areas of Myanmar. Maha is owned by the Myanmar Awba Group (87%) and the International Finance Corporation (13%), a member of the World Bank Group.

Maha was registered in 2013, started operations in 2014 and has scaled up operations in the last few years. Maha is currently operating in 32 branches across 8 regions and provides financial services to more than 40,000 clients, 93% of whom are farmers. Maha has total assets of approx. 40 USD mln on Dec 2019. Maha has been a client since 2019 where MASSIF provided an USD 3mln (O/S USD 3mln) local currency equivalent loan maturing in March 2022.

Contact Information
*There is no information being disclosed at this stage of the project*
 
ACCESS TO INFORMATION 
As part of FMO’s “ex-ante disclosure” (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl
 
ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism