SME Financial Competency Training program conducted at UMFCCI

Through implementing partner ADFIAP – the Association of Development Financing Institutions in Asia and Pacific, SMART Myanmar conducted a 2-day SME Financial Competency Training attended by sixty one (61) members of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Myanmar Industries Association at the UMFCCI Mingalar Hall in Yangon, Myanmar on May 11-12, 2017.

This training program completes the holistic approach to help SMEs access finance, particularly those in the garment sector which are the target beneficiaries of SMART Myanmar 2.0. In 2016, ADFIAP conducted three (3) Green Finance Training Programs to members of the Myanmar Bankers Association, culminating in the certification of the participants who completed the 3 courses as “Green Bankers”. The training interventions were aimed at building the capacities of the loan officers so they can confidently lend to green projects under a risk-mitigated environment.

The recently concluded SME Financial Competency Training Program provided SME Managers with key advice on how to understand their financial needs; how to choose and secure the right source of funding; what banks look into in financing SME projects; how to prepare a business plan; how to comply with bank requirements; and how to be a responsible borrower. Having capacitated both the banks and the SMEs, SMART Myanmar envisions to fulfill its aspiration of paving the way for targeted SMEs to have access to finance from banks to fund green investments, especially related with energy and water efficiency.