FMO, In Partnership with VDB-Loi and Yoma Bank Holds A Two-Day Workshop Event in Yangon
“The Basic Guide to Foreign Legal Loan Agreements” Workshop Aims to Create a Platform for Sharing Knowledge of Myanmar Market
Yangon, Myanmar – September 5, 2017– FMO, the Dutch Development Bank, in partnership with the law firm VDB-Loi, and Yoma Bank holds a two-day workshop event. “The Basic Guide to Foreign Legal Loan Agreements” workshop will take place on September 5th and 6th at Yoma Bank’s head offices in Yangon.
The two-day workshop will host a variety of practitioners from the private financial sector and microfinance institutions. FMO, VDB-Loi and Yoma Bank are delighted to welcome participants from more than ten different microfinance institutions and banks. The participants will gain useful insights on investment processes, the content of the loan agreements, and the Myanmar laws applicable for debt transactions and more.
The aim of the joint initiative of FMO, VDB-Loi, and Yoma Bank aim to create a platform for sharing knowledge gained on the Myanmar market. "It is a pleasure for Yoma Bank to support the development of Myanmar's micro finance sector through this knowledge sharing seminar. We look forward to working with FMO and VDB- Loi, as well as other supporters of Myanmar's MFI industry, in the future,” said the Advisor to the Chairman and CEO of Yoma Bank, Mr. Hal Bosher.
“FMO is proud to be one of the organizers of this workshop, partnering with others to increase knowledge and good practices in the financial market of Myanmar, a country with great future potential,” Linda Broekhuizen, CIO of FMO added.
Edwin VanderBruggen, senior partner at VDB-LOI also stated, “International financing is still new to Myanmar. Many corporate borrowers in Myanmar do not have much experience with international loan documentation. The training sessions will be a great help in this regard”.
FMO is the Dutch development bank. As a leading impact investor, FMO supports sustainable private sector growth in developing countries and emerging markets by investing in ambitious projects and entrepreneurs. FMO believes that a strong private sector leads to economic and social development, and has a 45-year proven track-record of empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With a committed portfolio of EUR 9.8 billion spanning over 85 countries, FMO is one of the larger bilateral private sector developments banks globally. For more information please visit www.fmo.nl.
VDB Loi is a leading law and advisory firm in Myanmar. The firm has exclusively dedicated practice teams in Corporate, Banking, Licensing and Disputes, and has specialized teams in Energy, Infrastructure Real Estate, TMT and Taxation. We have acted on more than half of the transactions undertaken by international financial institutions in Myanmar. Edwin Vanderbruggen lives in Myanmar since 2012.
About Yoma Bank
Founded in 1993, Yoma Bank is Myanmar's most progressive domestic bank. Over the past few years, Yoma Bank has made significant investments in strategic priorities - people, technology and corporate governance. Yoma Bank is Myanmar's fourth largest bank by assets with 3000+ employees and 72 branches across the country. Yoma Bank was the International Finance Corporation's (IFC) first direct investment in Myanmar in 2014 and it benefitted from a comprehensive 3-year advisory package to upgrade credit risk management, finance, treasury, product development and to procure a new core banking system (Misys Fusion Banking Essence). Yoma Bank also receives ongoing technical assistance from GIZ, the German development agency, to improve and expand our SME lending. In 2015, Yoma Bank formed a strategic partnership with Telenor (Myanmar's largest foreign Telco) to develop nationwide digital financial services through the formation of Wave Money, a mobile financial services company. Yoma Bank has benefitted from a significant grant from LIFT, a multi-donor, UNDP administered trust fund, to expand agribusiness finance to Myanmar's underserved agricultural community - a key segment in Myanmar’s development. Technical assistance for this program is provided by Rabo Bank, a Dutch agricultural bank. Yoma Bank is committed to financial inclusion in Myanmar.
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