Proximity Finance Microfinance Company Limited

ongoing

Proximity Finance Microfinance Company Limited is Myanmar’s first farmer-focused finance institution. Proximity Finance was launched in 2010 as the microfinance arm of Proximity Designs. Proximity Designs is one of the largest agricultural services platforms in Myanmar, providing a combination of farm technology, advice, and financial services to small family farms across the country. Proximity Finance serves over 130,000 smallholder farmer households through 16 branches, reaching 2,000 villages in 9 of Myanmar’s 14 states and regions. Finnfund participates with USD 4.7 million equity in Proximity Finance’s USD 14 million equity package together with Nordic Microfinance Initiative (NMI) and Proparco. The funds will be used to increase loan sizes to adequately meet the capital requirements of small farms in order to boost farm yields and profits, to diversify Proximity Finance’s financial product offering, and invest in technology and systems with the goal of growing the gross loan portfolio and doubling the active smallholder farmer client base.