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Celebrating Our Work in Myanmar
By Jose Luis Figueroa, World Vision Sr. Technical Advisor Food Security & Livelihoods
Since its inception in 2013, great progress has been accomplished by VisionFund Myanmar in providing sustainable access to financial services for families who are now empowered economically to build brighter futures and reach their God-given potential.
From 2016 to date, VisionFund Myanmar has served more than 186,000 clients with a total portfolio of nearly $40 million, with 86% of these clients being women. More than 34,000 clients used their loans to support agriculture-related businesses, helping them avoid having to resort to using loan sharks. Loan clients were encouraged to save money to boost their family's resilience and aid in financial planning. More than 435,000 clients have saved $6.4 million!!!!
Through improved incomes, smallholder farmers and small-scale entrepreneurs are now better able to increase productivity and position their businesses for greater growth. And behind this progress are lives transformed. Nearly all clients report at least one benefit for their children A sampling of clients in March, almost all of whom had received a loan in the past year, found that 99% reported at least one benefit for their children and 73% reported three or more. The most commonly reported benefit was sufficient food/nutrition, followed by education, clothing, and health, all of which were mentioned by more than half the respondents.
 So far in 2019, VisionFund also added more branches, introduced a new core banking system, and promoted greater client savings. It has also positioned itself to serve more people, including those in conflict-affected areas to the west. VisionFund now operates 51 branches, up from 48 last year, expanding its reach to those in need of financial services, focusing on retaining existing clients and providing them the right loan size. Average loan size has increased to $319, within approved limits, and is based on the clients’ capacity to repay. Larger loans allow clients to invest more in their livelihood activities. Nearly two-thirds of VisionFund clients in Myanmar are based in World Vision’s program areas, which help communities establish sustainable access to vital resources such as water, food, and healthcare.
Sharing great funding news, VisionFund Myanmar has been conditionally approved for a $3.25 million LIFT grant to establish seven new branches in Kachin, Kayin, and Shan states. In partnership with World Vision, VisionFund Myanmar progressed on two projects funded by government grants to support value chain development work. Additionally, a New Zealand-funded project is serving more than 5,500 active clients, while one funded by Australia has reached more than 3,000 clients. These projects capitalize on World Vision’s graduation approach to economic empowerment; while VisionFund aims to provide financing to farmers, World Vision helps them expand their businesses. Together, these value chain projects have led to two additional branches being established, with both quickly reaching their growth targets.
 During our support through the ELO Campaign, 263,002 jobs were sustained, 436,664 clients saved $6.4 million, and rural borrowers accounted for 52% of VisionFund Myanmar's clients, with 34,318 new and existing clients borrowing for agricultural related businesses. Now those are numbers to celebrate!
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