The Grameen Crédit Agricole Foundation has just granted a first loan in local currency equivalent to € 1.3 million to Thitsar Ooyin, in order to enable this microfinance institution to continue its action, particularly with rural populations in Myanmar.
Thitsar Ooyin is a microfinance institution based in Hakha, Chin State, a rugged and isolated mountain area in northwest Myanmar. This institution is active in some of the most difficult to access regions of the country. It provides microcredits to the poorest and underprivileged communities in rural areas, and in particular to women. Its methodology has enabled the institution to build a solid client base despite difficult conditions, thus creating a significant impact on the livelihoods of rural populations.
Thitsar Ooyin offers both group and individual loans, mainly to women. To date, the institution has a loan portfolio of € 7.3 million and has over 30,000 borrowers, 79% of whom are women and 92% of whom live in rural areas. It currently employs over 100 people through a network of twelve branches located in Chin State and Sagaing region.
With this loan, the Foundation now has three partners in Myanmar.
For more information on the organisztions supported by the Foundation, click here.