The Swiss Investment Fund for Emerging Markets (SIFEM) has provided a USD 8 million loan in local currency to the Pact Global Microfinance Fund (PGMF), the largest microfinance institution in Myanmar, serving more than one million clients.
The Swiss Investment Fund for Emerging Markets (SIFEM) has provided a USD 8 million loan in local currency to the Pact Global Microfinance Fund (PGMF), the largest microfinance institution in Myanmar, serving more than one million clients.
In the midst of the Covid-19 pandemic, SIFEM’s senior loan to PGMF will promote financial inclusion in this growing market by supporting access to and usage of financial services, thereby contributing to the reduction of inequality in the country. This investment will therefore contribute to the United Nations’ Sustainable Development Goal (SDG) 10 but will also empower women and support gender equality (SDG 5) by financing women-led businesses, which account for 98 percent of PGMF’s loan portfolio.
The loan has been provided in local currency (Kyat/MMK) thanks to a hedging solution which will help PGMF reduce foreign currency risks on its balance sheet and provide better solutions to its clients.
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SIFEM contributes USD 15 million to the fund allowing it to reach target fund size and supporting infrastructure and climate projects in Colombia and Peru.
SIFEM contributes USD 15 million to the fund allowing it to reach target fund size and supporting infrastructure and climate projects in Colombia and Peru.
