The Myanmar government is setting up microcredit schemes in the townships of Pale, Yinmabin, Salingyi and Kani with the aim of providing capital to rural people. The microcredit schemes will reportedly be enabled to become nonprofit businesses over time. The government will disburse MMK 250 million (USD 333,000) for the project in December 2011. Officials are encouraging the formation of schemes for vendors, hawkers and daily-workers as well as the development of cooperatives. Myanmar has a total population of about 60 million, of which 70 percent live in rural areas.
By Cameron Milani, Research Associate
Sources and Additional Resources:
Xinhuanet, “Myanmar Plans Micro-credit Schemes in Northwestern State,” http://news.xinhuanet.com/english2010/world/2011-11/14/c_131245183.htm
MicroCapital Article, July 1, 2011: “MICRPCAPITAL BRIEF: Myanmar Plans Microfinance Expansion in Rural Communities,” https://www.microcapital.org/microcapital-brief-myanmar-plans-microfinanc…
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROFINANCE PAPER WRAP-UP: “Gendered Investment Differences Among Smallholder Farmers: Evidence from a Microcredit Programme in Western Kenya,” by Keiji Jindo et al
- MICROFINANCE PAPER WRAP-UP: “Impact of Microcredit on Household Consumption and Assets in Nepal;” by Shalik Ram Pokhrel
- MICROCAPITAL BRIEF: Imkon of Uzbekistan Nets Convertible Debt from BOPA to Expand Microfinance, SME Finance
- MICROCAPITAL BRIEF: AIA Commits $200m to LeapFrog Investments Seeking Positive Social, Environmental Impact
- MICROFINANCE PAPER WRAP-UP: “Determinants of Choice of Credit Source Among Clients of Microfinance Systems in the Upper West Region of Ghana,” by Paul Bata Domanban et al
