VisionFund Myanmar has received $4m in financing from the Japan Women Empowerment Fund and Microfinance Initiative for Asia.
The financing will be in the form of a loan for a two-year term from the funds both managed by global impact investment manager BlueOrchard Finance.
The company claims to have the largest reach in providing microfinance services in Myanmar and said they will use the loan to extend services to rural and urban communities.
As of August VisionFund Myanmar has more than 152,000 clients, 87 per cent of which are women borrowers, with a total loan portfolio of over $25m. VisionFund International has a network of microfinance institutions in over 30 countries, as well as Myanmar.
BlueOrchard was set up in 2001 as an initiative of the United Nations, becoming the first global commercial manager of microfinance debt investments.
Copyright FinTech Global 2017