PROXIMITY FINANCE MICROFINANCE. LTD
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Proximity Finance Microfinance Company Limited is Myanmar’s first farmer-focused finance institution. We offer a suite of innovative financial products tailored to the needs of rural families, and currently serve over 122,000 smallholder farmers. The organization is wholly owned by Proximity Designs, an award-winning social enterprise with over 15 years of experience achieving social impact in rural Myanmar.
What is our funding objective?
To support Proximity Finance implementing a mobile money payments system to build the foundations for a fully digitized disbursement and collection process. With the onset of COVID-19, Proximity needs to move fast to ensure they can establish contactless distribution channels to reach their customers at this critical time.
Why do we fund this investment?
With the onset of COVID-19, Proximity needs to move fast to ensure they can establish contactless distribution channels to reach their customers at this critical time.
More investments
| Date | Total FMO financing |
|---|---|
| 7/8/2020 | USD 5.00 MLN |
| 5/28/2018 | USD 2.00 MLN |
- Region
- Asia
- Country
- Myanmar
- Sector
- Financial Institutions
- Effective date
- 4/28/2021
- Total FMO financing
- EUR 0.09 MLN
- Funding
- MASSIF
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C