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Myanmar Microfinance Association hosts annual member conference

21 February 2024

The Myanmar Microfinance Association held its annual members' conference on 17 February at the Chatrium Hotel.

Speaking at the event, Ministry of Planning and Finance Deputy Minister U Maung Maung Win said between 2011 and 2024, the number of operational microfinance organisations had increased from  142 to 178. 

The sector's reach has extended to cover more than 3.5 million peopledistributed across 2,245 wards and 26,985 villages in various regions and states, he added.

It noted that the primary focus of the microfinance institutions, in alignment with the state's economic policy, remains on providing essential financial services to low-income individuals, agriculture, and livestock-based MSME businesses. 

Breaking down the sector's engagement, it was disclosed that 6% of financial services were directed towards the manufacturing sector, 14% to the service sector, 38% to trade, 35% to agriculture, 6% to livestock and fisheries, and 1% to the education sector.