DaNa has awarded grants to 3 projects that aim to increase access to financial services:
Microinsurance (Stonestep Myanmar and Vision Fund Myanmar)
Many households in Myanmar are just one unfortunate event away from poverty. Lives can be turned upside down by any number of unexpected events: a failed crop, a sudden illness, or a death in the family. Unforeseen shocks can wipe out hard-earned savings and result in long-term loss of income.
Launched in 2018, the project aims to increase household resilience and financial inclusion by providing access to microinsurance for up to 600,000 people.
Transforming Financial Service Provision through Digital Inclusion is implemented by Vision Fund Myanmar. The project is developing innovative mobile money solutions to reach more of the unbanked population, particularly disadvantaged groups such as women, migrant workers, smallholder farmers, informal businesses, and small enterprises.
By the first half of 2020, the project had 367,983 clients with total loans reaching MMK 97.93 billion.
SME Supply Chain Financing, implemented by Thura Swiss (Myanmar) Co., Ltd. and Seedstars World Sa, aims to establish a technological platform targeting SMEs. The project has so far loaned a total of GBP 700,000 to 208 clients.