OPIC Provides $5 Million Loan to BRAC in Support of Microfinance Lending in Myanmar

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has provided a $5 million loan to BRAC Myanmar Microfinance Company Limited, a microfinance institution in Myanmar operated by BRAC International, to support lending to poor and underserved borrowers.

OPIC’s support will help BRAC Myanmar provide more loans and increase financial inclusion in Myanmar, where less than 26 percent of the local adult population has access to formal financial services. Since its inception in 2013, BRAC Myanmar has provided almost 250,000 microfinance loans to women entrepreneurs and more than 2,500 small business and agriculture loans in amounts ranging from less than $100 to about $2,000, with some borrowers accessing loans of up to $6,500.