2015 has been a sensational year for ZMF, ADC’s partner project in Myanmar. After many years of establishing itself, assessing the needs of the local community and piloting financial products, ZMF reached a point around 12 to 18 months ago where it was ready to scale up. This has coincided with ZMF obtaining a permanent license to operate as a microfinance institution, one of only two organisations in the region to do so.
At the end of July 2015 devastating floods swept through the Kalay region, causing serious damage to homes and businesses. Many ZMF clients lost enterprises that they had worked hard to build. These clients have shown incredible determination to rebuild their businesses, and the support they have been shown by the ZMF staff and community has been remarkable.
In spite of this setback, ZMF continues to go from strength to strength. Demand for loans is high, and clients continue to report a huge impact on their livelihoods from being able to access affordable capital for small business.
As the end of 2015 draws near, we are celebrating more than 2,750 loans and almost NZ$ 600,000 disbursed since ZMF began operating in 2008. This has been a truly remarkable journey so far, and it is exciting to think that it might be just the beginning.