ADFIAP, as partner-organization of the EU-funded Switch Asia project, “SMEs for Accountability, Responsibility and Transparency (SMART) Myanmar 2”, conducted a 2-day SME competency training in Yangon, Myanmar on May 11-12, 2017. The seminar was attended by fifty (50) members of the Union of Myanmar Federation of Chambers of Commerce and Industry and the Myanmar Industries Association.
The training program completes the holistic approach to access to finance by SMEs, particularly those in the garment sector which are the target beneficiaries of SMART Myanmar 2. 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 have completed the 3 courses as “green bankers”. The training intervention was aimed at building the capacities of the loan officers so they can confidently lend to green projects under a risk-mitigated environment.
The program also 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 2 envisions to fulfill its aspiration of paving the way for its target SMEs to have access to finance from banks to fund their green investments.
ADFIAP Consulting (AC) Group Head Corazon D. Conde and ADFIAP Senior Consultant Victor C. Abainza were the resource persons of the seminar.
The SMART Myanmar 2 https://www.smartmyanmar.org is a 4-year project that aims to improve production and increase consumption of sustainably-produced garment from Myanmar through up-scaling and improving on best practice mechanisms developed and implemented during SMART Myanmar 1.0.