One of Norfund's investees in Myanmar,  Advans MFI Myanmar Company Limited, has now opened its first branch in Amarapura. 

Advans MFI Myanmar, incorporated in 2015, was founded by Advans SA, Norfund and Amret. Advans SA is majority shareholder, holding 50% of the share capital, with Norfund holding 40% and Amret holding 10%. Advans MFI Myanmar aims to contributing to increased access to finance for unbanked people and MSMEs in the country. It will also contribute to developing the local financial markets.

I am very happy to say that we have disbursed our first group loan. This marks the beginning of Advans’ exciting new adventure in Myanmar, where we aim to serve clients who have insufficient access to formal banking services, with the ultimate aim of contributing to private-sector led economic and social progress in the country.
 

Jana Kadian, CEO of Advans Myanmar

 

Download press release here.