The National League for Democracy (NLD), a banned political opposition party in Myanmar (formerly known as Burma), is reported to be planning the launch of a microcredit program to provide small, interest-free-loans in South Okkalapa Township of Burma’s capital city, Rangoon.
The program is reported to be planning a launch on June 1, 2011, at which point it will offer loans of MMK 20,000 (USD 24) to 50 individuals, including vendors and others without access to traditional forms of credit. Irrawaddy, a Burma-based news source, reports that the program will prioritize women who earn their living on a daily basis and that individuals who receive funding will be required to repay MMK 700 (USD 0.85) per day.
There are no microfinance institutions in Myanmar that report data to the US-based nonprofit Microfinance Information Exchange as of May 2011.
By: Alexandra Pattee, Research Associate
Sources and Resources:
[1] Irrawaddy, “NLD Members to Launch Microcredit Program”, http://www.irrawaddy.org/article.php?art_id=21339
MicroCapital.org Article, October 27, 2009, “Burmese Military Authorities Plan First Microfinance Lending Program on Burma’s Western Border”, https://www.microcapital.org/microcapitalorg-story-burmese-military-authorities-plan-first-microfinance-lending-program-on-burmas-western-border/
MicroCapital.org Article, April 14, 2009, “Japan Gives USD 84,000 to Support Microcredit on the Thai-Burmese Border Through the Grassroots Human Security Projects Scheme”, https://www.microcapital.org/microcapital-story-japan-gives-usd-84000-to-support-microcredit-on-the-thai-burmese-border-through-the-grassroots-human-security-projects-scheme/
MicroCapital.org Article, July 4, 2008, Microfinance Institution MBEG (Myanmar Business Executive Group) to Support Burmese Cyclone Victims with $45k in Microloans”, https://www.microcapital.org/microcapital-story-microfinance-institution-mbeg-myanmar-business-executive-group-to-support-burmese-cyclone-victims-with-45k-in-microloans/
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