Local lender Yoma Bank is to extend a US$ 11.5 million (K15.8 billion) loan to support the operations of Pact Global Microfinance Fund (PGMF) in Myanmar, according to an international report. Mr Fahmid Bhuiya, president and chief operating officer of PGMF, was quoted as saying the loan would allow the company to support about 40,000 families for their micro businesses and small holder farms. The company is targeting a further 500,000 borrowers and to increase its portfolio to $110 million over the next three years, he said. Yoma Bank supports other finance operations in the country, including Advans Group, Myanmar Finance International Limited and Maha Agriculture Public Co Ltd.