Proximity Finance is Myanmar's first farmer-focused financial institution that provides loans and saving products to rural farming households (low- and middle-income farmers) to pursue farmer productivity, resilience, and well-being, which in turn supports the development of Myanmar's rural economy.
Alongside our parent Proximity Designs, we form part of the country's largest agricultural services platform with over 15 years of experience in achieving impact in rural Myanmar. Using our local distribution network, we offer unparalleled reach to over 200,000 rural clients and 900,000 household members.
Proximity Finance draws on local knowledge with field staff from different regions, ethnic groups and backgrounds to best serve our diverse customer base. Many of our key branch managers have been with Proximity Finance for over ten years and we hire almost all of our staff from the rural communities we serve.
We augment this local talent with international expertise at a management and board level. Our senior management team has a combined 60 years of experience in inclusive finance, impact investment, and professional services. Our board is comprised of a team of seasoned professionals across the development finance, digital, and finance sectors.
We lend directly to farmers, not through farm associations or producer groups. Our on-the-ground field staff travel directly to the villages, saving our customers both time and money. In 2021, we’ll make loans to over 250,000 smallholder farmers and entrepreneurs across 3,500 villages, with a loan portfolio of approximately $77 million.
We work with 15 international lenders, including leading development finance institutions (such as FMO and DFC) & two well-known local banks. We have pioneered numerous financing options in the market in recent years, including the first overseas loan to an MFI (2013), the first collateralized bank loan (2017), and the first standalone blended finance facility (2019). We also initiated to promote climate change products and services as we think Microfinance can be a great catalyst to support smallholder farmers' resilience to climate change.
We hold ourselves to high international standards in terms of environmental, social, and governance. We adhere to the Client Protection Principles, IFC environmental and social framework, and KYC/AML practices for both our customers and partners.