Yangon-listed Myanmar Citizens Bank (MCB) inked an agreement with the International Finance Corporation (IFC) to increase access to finance for small businesses and individuals.

The IFC will provide advice to the public lender to transform and modernise its business operations to better serve small businesses.  The project will be delivered over two years and will focus on optimising products and channels, improving branch and sales networks, optimising credit and risk management strategies as well as streamlining organisational management.

The IFC says the project is in line with the government’s Sustainable Development Plan to 2030 and with IFC’s goals to end extreme poverty and boost shared prosperity. The institution has invested in two other projects to boost Myanmar’s banking sector.

“Providing access to banking services which were previously unavailable is one of the first steps to alleviating poverty,” it said.

Source:
Myanmar Times