The team excitedly welcomed me in to the office and showed me around the new layout. For the first time I saw the office with electricity! It was no longer the dark space I remember where work was inevitably limited by the life of a laptop battery. The new solar power system is providing stable power for laptops, cellphones, and overhead lighting, all of which has greatly improved ZMF’s ability to manage daily operations and serve their clients. They are super grateful to the ADC supporters who helped fund the system.
By fortunate timing, the team from ZMF’s Tamu branch were in town working from the Kalaymyo office. They were preparing to hold a client business training session for 50 new clients who were due to receive loans from the recent money granted by ADC. It was great to share the team’s enthusiasm and as always it was exciting to see our supporters’ contributions making a real impact in the local community.
Outside of the exciting developments at ZMF, the Myanmar microfinance sector is also experiencing positive change as the government shifts away from military rule. In September the government approved amendments to Myanmar’s microfinance laws. The amendments are designed to help microfinance institutions de-risk their portfolios, improve savings products for clients, and allow institutions better access to foreign investment to grow the microfinance sector. The changes will make it easier for us to grant donor funds to ZMF and allow them to better serve their clients with high quality microcredit and savings products. Overall it’s very exciting news and it means your donations will have an even bigger impact on local communities.