BRAC is a development organisation dedicated to alleviating poverty by empowering the poor.
BRAC is established as two entities in Myanmar; an INGO and a microfinance company.
BRAC offers a pro-rural and pro-poor service as well as bringing a holistic development model delivered through its microfinance plus approach. By building the platform of branch offices throughout Myanmar, BRAC plans to create integrated development hubs where microfinance will be complemented by e.g. health, agriculture and education programmes. The information gathered from microfinance activities are being recorded systematically to identify needs of the community for better design and delivery of services.
In 2014, BRAC Myanmar received its license to operate in Myanmar. The company has been registered with the Ministry of Finance as a for profit organization. BRAC Myanmar disbursed its first micro-loan on 18 June, 2014. The loans are specifically targeted to poor women, with an average size of USD 255, and split between rural and urban areas. Up to July 2017, a cumulative amount of loan disbursement is 25.70 million USD and over 56,000 clients.
There are now 37 branch offices operating in three regions of Mandalay, Bago and Yangon region. Since 2016, BRAC has an emergency response coordinator who prepares the branch offices to handle emergency and humanitarian situations better, as well as strengthening community resilience to commonly occurring emergencies in Myanmar. Read more