Yoma Bank Makes $4.4 Million Follow-on Financing in BRAC Myanmar Microfinance

Yoma Bank, the financial services arm of First Myanmar Investment Co Ltd, has injected a second tranche of K6.8 billion ($4.4 million) in a follow-on financing round of BRAC Myanmar Microfinance Company Limited to expand its activities in the country, according to an announcement. 

BRAC will use the financing to expand its microfinance services for women and low-income families living in the outskirts of cities of Myanmar. With the funding, BRAC hopes to expand its microfinance coverage to an additional 15,000 households.