Maha MicroFinance (IFC-38031)

Countries
  • Myanmar
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Feb 2, 2017
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MAHA AGRICULTURE PUBLIC CO LTD
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 3.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 7.50 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS May 10, 2021

Disclosed by Bank Apr 13, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed project is to support Maha Agriculture Public Co. Ltd., a licensed microfinance institution founded in April 2013 in Myanmar, to develop an innovative, technologically-enhanced business model and grow its portfolio of loans and other financial services.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Maha was founded as a subsidiary of the Myanma Awba Group (“Awba” or the “Sponsor”), the market leader in agri chemicals (pesticides, herbicides, etc.) and fertilizers in Myanmar. Awba was founded in 1995 by the Managing Director / Group Chairman, Thadoe Hein, a highly respected and reputable business man in Myanmar, who is its majority shareholder too. Via a huge network of sales centers, dealers and selected key farmers, Awba ultimately reaches and serves around 3 million farmers across the Country. Maha will build on Awba’s strong brand recognition, and customer loyalty to address the significant and growing demand for financial services in Myanmar.

The proposed project consists of providing a financing package of up to US$7.5 million, comprised of: (i) up to US$1.5 million of equity in Maha; and (ii) up to US$6 million of senior loan.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Maha Agriculture Public Co. Ltd. is a licensed microfinance institution founded in April 2013 in Myanmar, to develop an innovative, technologically-enhanced business model and grow its portfolio of loans and other financial services.

Maha was founded as a subsidiary of the Myanma Awba Group, the market leader in agri chemicals (pesticides, herbicides, etc.) and fertilizers in Myanmar. Awba was founded in 1995 by the Managing Director / Group Chairman, Thadoe Hein, a highly respected and reputable business man in Myanmar, who is its majority shareholder too. Via a huge network of sales centers, dealers and selected key farmers, Awba ultimately reaches and serves around 3 million farmers across the Country. Maha will build on Awba’s strong brand recognition, and customer loyalty to address the significant and growing demand for financial services in Myanmar.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Myanmar Awba Group Co., Ltd. Parent Company -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

95-A, Kyaik Wine Pagoda
Road, Mayangone Township,
Yangon, Myanmar
No email provided.

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/

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How it works