By supporting this loan, you're helping rural families in Myanmar and giving young people the opportunity to develop new job skills and increase their household incomes. This loan is used to cover initial travel costs of seasonal workers and to give families the finances to help bridge the gap in earnings before remittances come back. Many of the workers are young and do not have access to traditional credit. To increase their impact, Proximity Designs schedules loan disbursements and repayments to coincide with the agricultural and industrial seasons of their workers.
About Proximity Designs:
Proximity Finance is the financial services unit of Proximity Designs, a non-profit social enterprise, established in Myanmar in 2004 to provide affordable irrigation products to smallholder farmers. Proximity Finance was set up in 2012 to offer working capital microloans to help these farmers increase their productivity and income. There are around 12 million smallholder farmers in Myanmar, the majority of whom don't have access to sufficient affordable credit to meet their working capital needs. In the absence of other financing opportunities, most of these farmers are unable to purchase the optimal level of inputs to achieve sufficient crop yields. As a result, farm productivity in Myanmar is lower than in any other parts of Southeast Asia.
Kiva funding will be used to help Proximity Finance expand its agricultural microfinance operations to new territories, and over time to expand its range of innovative, affordable financial services tailored to the needs of rural people.
Proximity?s mantra is ?Innovation in Collaboration.? Join Proximity's lending team or view their website to learn more about their impactful work.
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