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.
Upcoming Events
- No events
- all events
Highlights
Terminals, ports, logistics, liner operations disrupted
German containerline Hapag Lloyd has announced a decision to temporarily suspend cargo bookings into Myanmar …Facebook, Instagram ban military and related pages with immediate effect
In a February 24th update to its February 11th statement, Facebook through its Director of …Luxury Japanese real-estate complex called out for funding military
Despite distancing itself from other major Western states imposing sanctions on military-linked individuals and entities, …
Myanmar in the Media
- Myanmar junta chief to make first China visit since seizing powerSource: Voice of America East AsiaNovember 4, 20241 day ago
- War makes it harder to hold journalists’ killers accountable, experts saySource: Voice of America East AsiaNovember 2, 20243 days ago
- Alleged leader of Rohingya smuggling gang arrestedSource: Bangkok Post Top StoriesNovember 2, 20243 days ago
- Junta airstrikes lay waste to civilian lives in Myanmar’s Karenni StateSource: Voice of America East AsiaNovember 1, 20244 days ago
Thura NewsViews
Myanmar’s most widely read newsletter on the country’s politics, economy and businesses brought to you by Thura Swiss