Pact Global Microfinance Fund
Through access to credit, PGMF helps Myanmar's rural entrepreneurs lift their families out of poverty.
Since 1997, Pact, with the support of UNDP, has been making small loans to Myanmar’s rural villagers to help them build their incomes and improve their lives.
Pact’s longstanding microfinance operations in Myanmar were turned over in 2012 to the new government-licensed entity Pact Global Microfinance Fund (PGMF) as a result of new national microfinance regulations that Pact played a leading role in developing. With the support of an international partner, PGMF began working in 2013 with nine Myanmar-based NGOs to develop their own microfinance operations in particularly remote areas of the country.
Today, Pact Global Microfinance Fund is by far Myanmar’s largest microfinance institution. For most of those it serves, PGMF is the only access to affordable credit available. Each client attends business education classes where they learn how to save and use their loans to develop and grow their income-generating activities.
With a loan portfolio of more than US $360 million, PGMF reaches more than 1 million clients. Nearly all of them are women micro-entrepreneurs, with an average loan amount of $300. PGMF's focus on women entrepreneurs is reducing inequalities within Myanmar and helping families to lift themselves out of poverty.