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.
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