Proximity Finance Microfinance Company Ltd.

In brief

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 Myanmar's largest agricultural services platforms, providing 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 to boost farm yields and profits, diversify Proximity Finance’s financial product offering, and invest in technology and systems to grow the gross loan portfolio and double the active smallholder farmer client base.

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Main development impact

Investment details

Please note, that in principle, this information is given at the time of signature according to Finnfund's disclosure policy. However, in the case of investment funds, the share of Finnfund’s financing (%) is disclosed after the fund’s final closing, and information on the portfolio companies financed by the fund is updated at least once a year.