1,4 M€
Wallet
9 080
Number of beneficiaries
10,6 %
Women beneficiaries
10 %
Rural beneficiaries
Myanmar
Financial services
Funding granted
Loan of €1.3M*
(local currency equivalent)
Foundation Partner
since 2020
*Outstanding at grant value
Context :
The agricultural sector remains a key sector in Myanmar (281,000 people of GDP and 701,000 people of the working population), but the share of the service sector is increasing. The rural population stood at 69,421 people in 2018.
The institution:
Thitsar Ooyin is a microfinance institution that provides services designed to enable poor rural populations to increase their incomes by offering them loans tailored to their circumstances. These loans finance the development of informal activities (primarily livestock, agriculture, and trade) based on the solidarity of villagers through group loans, as well as the development of microenterprises through individual loans.
Impact :
To strengthen its social mission and improve its management, Thitsar Ooyin has committed to developing a social performance management strategy, which it is doing through Cerise, to train and support teams and the board of directors in developing Thitsar Ooyin's social strategy and a multi-year action plan. In particular, the institution has committed to continuing to monitor the poverty rate of its clients using the Poverty Probability Index (PPI).
The Foundation funds Thitsar Ooyin in Myanmar for the first time
The Grameen Crédit Agricole Foundation has just granted an initial loan in local currency equivalent to 1.3 million euros to Thitsar Ooyin, to enable this Burmese institution to continue its work, particularly among rural populations in Myanmar.
Thitsar Ooyin is a social microfinance institution based in Hakha, Chin State, a rugged and remote mountainous region in northwest Myanmar. The institution operates in some of the most remote areas of the country, providing microcredit to the poorest and most disadvantaged rural communities, particularly women. Its methodology has enabled it to build a strong client base despite challenging conditions, making a significant impact on rural livelihoods.
Thitsar Ooyin offers both group and individual loans, primarily to women. To date, the institution has a loan portfolio of €7.3 million and more than 30,000 clients, including 791 women and 92 rural clients. It currently employs more than 100 people in a network of twelve branches located in Chin State and the Sagaing region.
With this loan, the Foundation now has three partners in Myanmar.
For more information on the Foundation's partners, Click here.