Thitsar Ooyin Microfinance Company Launches in Myanmar

Thitsar Ooyin microfinance has been launched in Myanmar and is now governed by Myanmar law. The company is interested in activities that generate income and also the provision of loans to the marginalized people in the community. International development NGO GRET founded the company as a continuation of the microfinance activities that GRET has to initiate for more than 20 years. The first Myanmar microfinance institution was created in 1995 in Chin State which is an isolated mountainous region in North-West Myanmar. Following the success of the first organization, GRET decided to expand the financial inclusion service through the creation of a second institution In Myanmar region. Through constant support from The Livelihoods and Food Security Trust Fund (LIFT), the two organizations have enjoyed financial stability.

Through their services, Thitsar Ooyin empowers the rural population and enables them to increase their salaries through the provision of loans that are adapted to suit the situations. The credits are used in the growth and development of informal activities which is mostly inclusive of farming, livestock, and trade. Individual’s loans are further provided by the company for the promotion of micro-businesses. Thitsar Ooyin has eight branches and around 80 employees who work in service of the people. GRET implements solidarity in their services, and Thitsar Ooyin shares the same value to ensure positive development.

http://www.mizzima.com/development-news/thitsar-ooyin-microfinance-company-launches-myanmar

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