Advans Myanmar receives $1.4m in funding from Yoma Bank

Advans Myanmar, the youngest greenfield of the Advans Group, and Yoma Bank, one of Myanmar’s largest private banks, closed three financial transactions in March. The deal, worth $1.44 million, aims to support the affiliate’s growth in the country providing an estimated 2,000 microloans to new families in the Mandalay and Sagaing regions. Yoma Bank is Advans Myanmar’s first local lender, and the deals, which include two cross currency swaps and a back-to-back term loan will enable Advans Myanmar to hedge the exchange rate risk on their overseas borrowing and to provide local currency funding. This deal is a considerable achievement for Advans Myanmar – after only one year in operations!

See the Yoma Bank press release