Advans MFI Myanmar Company Limited




Committment (MNOK)

Financial Institutions


This is a Microfinance Institution in Myanmar. Advans MFI Myanmar is an experienced actor with focus on rural financing. Norfund's equity and loan enable the company to attract additional funding to grow its loan book.

  • Sector: Financial Institutions
  • Committment (MNOK): 58.8
  • Year: 2015
  • Region: Asia
  • Country: Myanmar
  • Domicile: Myanmar
  • Instrument: Equity & Loans
  • Status: Active


In October 2012, Norfund and Advans – a Luxembourg domiciled investment company specializing in creating and developing microfinance institutions (MFIs) in developing countries – agreed to collaboratively develop a greenfield microfinance institution in Myanmar, Advans MFI Myanmar. Today, Advans is the majority shareholder, holding 50% of the share capital, with Norfund holding 40% and Amret holding 10%.

It took longer than anticipated for Advans Myanmar to get the MFI license, but when they obtained it in April 2017, they moved fast and actually outperformed the project forecasts. Advans MFI Myanmar contributes today to increased access to finance for unbanked people and MSMEs in the country. 

Training the employees

As Advans MFI Myanmar operates in rural and peri-urban areas far from Yangon, attracting human resources is a big challenge. Advans’ strategy to meet this challenge is to systematically train and develop their employees themselves. It thereby also contributes to developing the local financial markets and financial competence in the country.

In 2018, Norfund closed a follow-on equity investment to Advans Myanmar. This equity investment will be catalytical as we expect it to help Advans Myanmar attracting additional needed funding for growing its loan book.

Financial institutions in Myanmar

Myanmar has a population of around 54 million whereof 66% live in rural areas. Only 26% of adults have an account at a formal financial institution (Global FINDEX Report 2017). Banks seldom lend to MSMEs and the microfinance industry is underdeveloped. The main source of financing is therefor through informal lenders.

Myanmar is one of Norfund’s priority countries. Norfund has been actively developing investment opportunities in Myanmar since microfinance was legalized in 2011. The Microfinance Law of 2011 boosted the expansion of microfinance services in the country, with several new local and foreign players investing in the Myanmar microfinance sector in recent years. The demand for microfinance is still large and a strong economic growth is expected in the coming years. An experienced actor such as  Advans MFI Myanmar helps to positively influence the direction and development of the Microfinance industry.

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