Feb 22, 2014

150 Microfinance Institutions competing for market share in Myanmar

The industry has experienced considerable growth in Myanmar in the last two years, as the previously closed-off economy opened and internationally backed financial institutions have capitalized on the estimated 84 percent of Burmese who have no access to financing, the Myanmar Times reported on Monday. To date, there are about 150 MFIs operating in the country, providing financing options for the impoverished population.