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Yangon, Myanmar based microfinance lender Myanmar Finance has secured a $1m debt facility from Malaysia's Maybank. MFIL is a joint venture between MIL (37.5%), Myanmar Finance Company Limited (37.5 percent) and the Norwegian Investment Fund for Developing Countries (Norfund), which owns 25 per cent.
This will be a follow-on debt injection from Maybank after the MFI secured $1 million back in November 2016. “This is the second in a series of debt financing initiatives that are planned for MFIL in the near term, allowing MFIL to continue to consolidate its position as one of the leading microfinance operators in Myanmar. For the past two years, MFIL has had no non-performing loans and its profits have consistently grown. This additional leverage enhances profitability and return on equity,” said Aung Htun, managing director of MIL.
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