Member News: OPIC Provides $5 Million Loan to BRAC in Support of Microfinance Lending in Myanmar
SME Finance Forum member OPIC has provided a $5 million loan to BRAC Myanmar Microfinance Company Limited, also a member, to support lending to poor and underserved borrowers.
“One of the most effective ways to empower the people of Myanmar is to help them access financial services so they can start and grow businesses, increase their earnings and invest in their families,” said David Bohigian, OPIC Acting President and CEO. “OPIC’s loan to BRAC will support thousands of loans to women and other groups who are not served by mainstream financial institutions.”
“BRAC Myanmar has been doing a wonderful job extending access to finance,” said Donella Rapier, President and CEO of BRAC USA, the North American affiliate of BRAC. “The investment by OPIC will enable its further expansion in support of financial inclusion in Myanmar, with a particular focus on women. I am pleased that BRAC USA could play a part in supporting the extension of this loan to BRAC Myanmar.”