VisionFund Myanmar Launches Loan Scheme for Factory Workers

VisionFund Myanmar recently announced the launch of a new microfinance loan product exclusively for garment factory workers, funded by the Livelihoods and Food Security Trust Fund (LIFT).

The loans were first launched at the ZES garment factory located in Hlaing Thar Yar Township, with over 160 workers availing themselves of the facility, which will subsequently be extended to other factories. Many workers in the garment sector have migrated to Yangon from rural areas. Research informing LIFT’s migration program shows that around 20% – one in five people – in Myanmar are migrating within the country, moving from rural areas to urban areas to find better jobs and training opportunities to support themselves, their families and communities back in rural areas.