IFC and Yoma Bank Signing Ceremony, 16th September 2014 at MICC 2, Nay Pyi Taw

IFC, a member of the World Bank Group, has agreed to provide Yoma Bank Ltd. with a $5 million convertible loan and help the lender improve its risk management and corporate governance in support of the bank's growth strategy. The package is expected to help Yoma Bank expand lending to small and medium enterprises, a sector of Myanmar's economy in desperate need of financing to grow and create more jobs. The loan is the first step in IFC’s financial support for the bank, which may be further increased to up to $30 million in coming years.