Client: Foreign, Commonwealth & Development Office
Duration: 2016-2022
Region: Asia and the Pacific
Country: Burma
Solutions: Economic Growth
Despite growth of more than 8 percent in gross domestic product from 2014 to 2015, as well as increased foreign investment, Myanmar remains one of the poorest countries in Asia. The domestic private sector has experienced little residual benefit from outside investment, widespread underemployment remains an issue, and the majority of gains from growth are still concentrated among a few long-established business entities.
However, small and medium-sized enterprises (SMEs), including household businesses, account for more than 90 percent of all enterprises in the country. Many of these operate on an informal basis, particularly those run by women. As a result, thousands of potential entrepreneurs are unable to seize business opportunities due to a lack of capital for investment and an uncertain business environment.
The DaNa Facility (DaNa is Burmese for “prosperity”), a program funded by the Foreign, Commonwealth & Development Office (FCDO), works to reduce poverty and increase incomes by fostering a strong business environment conducive to the creation of jobs and economic opportunities for SMEs and poor people.
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