Triple Jump’s First Investment in Myanmar
Triple Jump, in a joint club loan with Norfund and DWM, signed its first transaction in Myanmar with Myanmar Finance International Limited (MFIL), from ASN Novib Microfinance Fund (USD 1 million) and Oxfam Novib Fund (USD 1 million).
MFIL, based out of Yangon, was founded in 2012 by a group of Myanmar nationals, led by U Htet Nyi, a highly-regarded businessman who also serves as the Honorary-Consul of Norway and Finland, further onboarding Myanmar Investments International Limited – a Myanmar-focused investment company listed on the London Stock Exchange, and Norfund – the Norwegian government’s development finance institution. The facility will enable MFIL to double its loan portfolio and number of clients serviced driving expansion of financial inclusion in Myanmar. MFIL currently operates via 8 branches servicing +57,000 borrowers with a portfolio of USD 11m.