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Micro-lenders to Start Operations in Burma by Year End

28 August 2012

Germany’s Savings Bank Foundation for International Development (SBFIC) plans to start taking deposits by the end of this year to fund a pilot lending operation in Burma, according to a report by The Bangkok Post. The group, which will be working together with local NGOs Myanmar Egress and Mingalar Myanmar, expects to get a government license within a month, according to Nicole Brand, SBFIC’s project manager for Southeast Asia. A micro-finance law was passed by Burma’s government late last year, but the market remains small, according to UN officials.