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Since 1997, when Myanmar was a closed society under military dictatorship, Pact, with the support of UNDP, has been making small loans to the country’s rural poor to help them build their incomes and improve their lives.
Pact’s longstanding microfinance operations in Myanmar were turned over in 2012 to the new government-licensed entity Pact Global Microfinance Fund (PGMF) as a result of new national microfinance regulations that Pact played a leading role in developing. With the support of an international partner, PGMF began working in 2013 with nine Myanmar-based NGOs to develop their own microfinance operations in particularly remote areas of the country.
Today, Pact Global Microfinance Fund is by far the emerging democracy’s largest microfinance institution. For most of those it serves, PGMF is the only access to affordable credit available. Each client attends business education classes where they learn how to save and use their loans to develop and grow their income-generating activities.