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".
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.
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