Yoma Bank and De Heus Launch Innovative Poultry Farmer Financing Plan
Yoma Bank’s Agribusiness Finance Program (AFP) Delivers Innovative Financing for Livestock Farmers
Yangon, Myanmar – Jan 22, 2018 – Yoma Bank signed its first innovative loan agreement that is set to revolutionize SME financing in the poultry sector. The purpose of the loan is to facilitate livestock farmers with working capital to buy animal feed from De Heus, a Dutch Feed Miller with factories in Yangon and Mandalay. The finance structure is a win-win situation for all parties involved. Individual farmers and dealers get access to the formal financial system in order to grow their poultry business, whereas De Heus is positioned to grow feed sales on the back of their clients’ increased purchasing power. Borrowers are not required to put up hard collateral typically requested by banks in Myanmar, but rather earn unsecured bank credit based on their positive track record.
"Yoma Bank is proud to support Myanmar’s poultry farmers through this innovative partnership with De Heus. This program will make a great impact on the ability of livestock farmers to grow their businesses. Yoma Bank’s Agribusiness Finance Program, together with LIFT, continues to deliver new and innovative financing solutions to support Myanmar’s agriculture sector.” said the Advisor to the Chairman and CEO of Yoma Bank, Mr. Hal Bosher.
The poultry financing plan is yet another innovative product from Yoma Bank’s Agribusiness Finance Program (AFP), which aims to deliver financing solutions to agricultural players currently excluded from the formal financial system. The initiative is supported by the Livelihood and Food Security Trust Fund (LIFT), a multi-donor initiative. Agri-finance consultant Arnold Tijdens from Yoma Bank emphasised the unique opportunity in Myanmar to introduce new financing solutions to the agricultural sector, and the positive ramifications this has for the country at large.
Johan van den Ban, Managing Director De Heus Myanmar, says “As De Heus Myanmar we are always looking for innovative solutions to support our customers: the independent, mostly Myanmar family-owned livestock farmers. To develop the poultry sector, it is important that the financial institutional environment in Myanmar will go through a process of professionalization. Therefore, we are proud to launch this new service together with Yoma Bank and we are confident that this is only the first of many steps into an era of great collaboration between the Myanmar livestock sector and the banking industry.”
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