ADFIAP, as project partner of the EU-funded Switch Asia project, “SMEs for Accountability, Responsibility and Transparency (SMART) Myanmar 2.0”, conducted the “Workshop on Concept Note Preparation” on May 15, 2018 at the Union of Myanmar Federation of Chambers of Commerce and Industry(UMFCCI) training room in Yangon, Myanmar.
The workshop was aimed at guiding SMART Myanmar garment factory owners in preparing concept notes for the purpose of applying for a grant under the Danish facility’s Responsible Business Fund or RBF Myanmar. It was also meant to introduce the blended finance scheme wherein the RBF grant, which is solely for equipment acquisition, can be supplemented by other funding sources such as bank loans for their other investment requirements like factory building improvement/expansion and working capital.
RBF can provide grants of 65%-85% of the project cost or MMK 40M to MMK 80M to SMEs to demonstrate best practices to the rest of the Myanmar business community in seven (7) eligible areas: (1)energy efficiency (2) water use efficiency (3) waste treatment and recycling (4)occupational safety and health (5) food safety (6) managerial and supervisory skills, and (7) practical and technical skills. The SMEs should be registered in Myanmar with 600 or less permanent staff or has less than 1 billion Myanmar Kyat in paid-up capital, has been operational for at least 2 years, and can show externally audited accounts for the most recent years. An on-site visit to two of the applicants was conducted on May 18, 2018 to determine which among the 7 areas can the companies qualify and to guide them further on how to complete their concept notes.
The SMEs for Environmental Accountability, Responsibility and Transparency (SMART) Myanmar 2.0 is a 4-year EU-funded project aimed at improving production and increase consumption of sustainably produced garments from Myanmar through up-scaling and improving on best practice mechanisms developed and implemented during SMART Myanmar 1.0. For more information on the SMART Myanmar project, please click this weblink: https://www.smartmyanmar.org.
The ADFIAP resource persons who conducted the workshop were Ms. Corazon D. Conde, Group Head of its Consulting Group and Atty. Alberto B. Reyno, Managing Principal of ADFIAP Consulting.