Pact assessing loans to flood-hit farmers
The repayment of more than US$10 million in loans issued by Myanmar’s largest microfinance institution is in doubt as a result of devastating floods in upper Myanmar last month.
Pact Global Microfinance Fund’s general manager for upper Myanmar, U Maung Maung, said the organisation is reviewing the impact of the flooding on its 70,000 clients in 24 flood-affected townships, who have collectively taken out K16.995 billion (US$13.17 million).
