AGD Bank Ltd signs MMK 10 Billion finance agreement with Pact Global Microfinance Fund (PGMF)
AGD Bank Ltd, one of the leading financial institutions in Myanmar, announces a signing of a financing agreement with Pact Global Micro-finance Fund (PGMF), which has developed out of Pact’s 22 years of micro-finance operations in Myanmar.
The signing ceremony was held at AGD Bank Headquarters on September 2019 in Myanmar in the presence of U Pyi Soe Htin, Chief Business Officer of AGD Bank Ltd, and Fahmid Bhuiya, President & COO of Pact Global Micro-finance Fund, along with prominent officials from both companies.
The purpose of this financial agreement is to develop the industry and grow rural areas to benefit the whole of Myanmar via the Pact Global Micro-finance Fund.
U Pyi Soe Htin, Chief Business Officer, AGD Bank Ltd, says “We are delighted to announce the signing of this finance agreement with Pact Global Micro-finance Fund. AGD Bank’s vision is to provide vitally important banking infrastructure to make a lasting impact on the future of agriculture in Myanmar.”
PGMF President & COO, Mr.Fahmid Bhuiya said “PGMF is one of Myanmar’s largest and oldest microfinance service provider with over 4,500 employees in 14,836 villages from 79 townships. Since 1997, PGMF’s micro-finance operations have reached 1,764,136 individuals, over 98 percent of whom are women. This MMK 10 BL loan will help more than 30,000 families in rural areas of Myanmar to access loans so they can support businesses, invest in livestock’s farm and agriculture sector “