The International Finance Corporation (IFC) has become the first international investor in a Myanmar bank. The IFC now takes a five percent stake of Yoma Bank, a conversion of a previously agreed USD 5 million loan. The investment arm of the World Bank Group had provided the convertible loan in 2014 to help the bank scale up its ability to lend to small and medium-sized enterprises (SMEs), said an article in the Myanmar Times. Vikram Kumar, IFC Country Manager for Myanmar and Thailand, was quoted as saying that the move will allow Yoma to expand its product offerings. He also added that the lender has followed “global standards of governance diligently”. It was reported that about four other local lenders are currently in discussions with foreign lenders. It was also added that the Yoma/IFC move would improve foreign firms’ confidence in investing in Myanmar’s financial institutions.