DFID-funded grant program to target agribusinesses

In Sule Shangri-La, Yangon, on 7 July 2017, Mr.Peter Brimble, the team leader from DaNa Facility, outlined the progress on the development of Myanmar’s private sector and the private sector development (PSD) program’s latest action plan.He added that DaNa Facility (DaNa) will launch the Business Innovation Window[BIW] in late August with an emphasis on businesses in agribusiness, community forestry, garments and textiles and financial inclusion.

DaNa is funded by the UK Department for International Development (DFID), which provided £25 million (K43.9 billion), and supports inclusive economic growth and private sector development in Myanmar, through responsible and sustainable business growth, investment and trade. Mr Brimble said that the Business Innovation Window would look for innovative business ideas.The project ideas have to aim to be commercially sustainable once the DaNa Facility grant funding ends.

Earlier this year, DaNa launched the Economic Empowerment Window, the granted projects are led by four domestic non-governmental organizations (NGOs) and two ( INGOS), and all six will have private sector partners. This program focuses on women’s economic empowerment, conflict-affected or post-conflict areas and social and environmental sustainability. Currently, they have an emphasis on garments and textiles, agribusiness, community forestry and financial inclusion. The matching grant fund will primarily target companies and anticipate four separate sub-windows based on those four focus sectors. Grant sizes will be between £250,000 and £750,000.In addition, Mr Brimble outlined the action plan for Myanmar’s PSD.A PSD Committee chaired by Myanmar’s vice president was formed in October last year.The committees willing to be more inclusive and has indicated a possible involvement of the Myanmar Young Entrepreneurs Association and foreign chambers in the working committees.

For more detail, you can reach by clicking this Link http://www.mmtimes.com/index.php/business/26753-dfid-funded-grant-program-to-target-businesses-in-four-sectors.html at Myanmar Times Newspaper.