As a business unit of Proximity Designs, it is the only fully integrated player for agricultural microfinance in Myanmar, serving smallholder farmers not only with access to finance but also access to technology and knowledge across 14 branches. These services are essential for inclusive development in Myanmar, where 70% of the labor force is employed in agriculture, less than 30% of people have access to formal financial services, and approximately one-fourth of the population lives below the national
Proximity applies a unique “human-centered design” approach to the development of its products, which involves extensive field research and in-depth interviews before new products are introduced. These products—all in local currency and with declining interest rates—are designed to cater to the specific needs of individual farmers so that loan structures match the cash flows of the borrowers. The MFI follows a collective group responsibility methodology, in which Small Lending Groups (SLGs) of four to eight borrowers co-guarantee each others’ loans.
Learn more about Proximity in our blog post here.close