Asia | July 9, 2020

Proximity Finance secures $14 million for loans to Myanmar’s farmers

Amy Cortese
ImpactAlpha Editor

Amy Cortese

ImpactAlpha, June 9Nearly 40% of Myanmar’s rural population lives in poverty. Proximity Finance, the microfinance arm of agriculture services provider Proximity Designs, offers flexible, low-interest loans to the country’s smallholder farmers. Approximately 60% of its clients are women.

The investment from Finnfund, Nordic Microfinance Initiative, and France’s Proparco will help Proximity triple the number of farmers it supports and increase loan sizes. Proximity Finance’s commitment “to improving the incomes and livelihoods of low-income farm families is strengthened by working with impact-driven investors,” said the firm’s Hedvig Sundberg.