Call for Applications: Leaving No One Behind Project Kachin State Microfinance Expansion (Myanmar)
United Nations Capital Development Fund (UNCDF) Myanmar is currently implementing the Expanding Financial Access (EFA) country programme, aimed at increasing formal financial access in Myanmar. EFA seeks to improve financial service access and usage to achieve equitable, sustainable and inclusive growth within the UN’s Sustainable Development Goals (SDGs) and the Myanmar Sustainable Development Plan (MSDP).
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EFA is a country programme that is designed to accelerate the financial inclusion in Myanmar. A central objective of EFA is to support the government of the Republic of the Union of Myanmar with the implementation of the National Financial Inclusion Roadmap 2019 to 2023, the highestlevel policy document on financial inclusion in Myanmar. The Roadmap looks beyond just access of financial services but also outlines a strategy towards quality, effective and affordable financial services.
Key objectives proposed under the Roadmap are:
Increase the percent of households with access to formal accounts1 from 24% to 50% by 2023
Increase formal financial inclusion for farmers to support agricultural activities and livelihoods from 52% to 60% by 2023
Increase formal financial inclusion for self-employed individuals from 51% to 60% by 2023 to support economic growth and job creation
Access to formal financial services for women to be at par with men
This RFA soley pertains to expansion of microfinance services to unserved or underserved areas of Kachin State. Specifically, the majority of financial services are to be delivered with the intention of increased financial access to vulnerable households, specifically poor and extreme poor, people with disabilities, internally displaced people, migrants and women and girls vulnerable to trafficking.
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Operations subsidy is limited to USD$250,000 with an additional 6% management and administration fee resulting in potential funding of USD$265,000.
The project is expected to end at the close of December 2022. Final reports are required no later than two months after project completion.
Funding is limited to new or recently initiated microfinance services in Kachin State townhips.
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The applicant must be a Myanmar registered microfinance institution (MFI) with a company license to provide microfinance services compliant with the Financial Regulatory Department (FRD) regulations and in good standing with the Myanmar Microfinance Association (MMFA).
Applicants must demonstrate at least five years of proven experience in providing microfinance services in Myanmar.
Applicants must have experience in establishing new MFI branch operations and must have an existing strategic and operational plan to support their expansion.
Agreement to comply with related reporting and fund recipient standards as established by the LIFT Fund..
For more information, visit https://www.uncdf.org/article/6418/rfa-leaving-no-one-behind-project-kachin-state-microfinance-expansion