Enabling SME access to finance for sustainable consumption and production in Asia – An overview of finance trends and barriers in Myanmar

Green Finance Study Myanmar
Sanyal, Sanjoy and Frederik Eisinger 2016: Enabling SME access to finance for sustainable consumption and production in Asia. An overview of finance trends and barriers in Myanmar. Berlin/Wuppertal: adelphi/Switch-Asia.

Myanmar has gone through dramatic changes in recent years. From a closed economy operating in isolation, the country has now opened its doors for foreign investment across sectors. Small and medium-sized enterprises (SMEs) account for 99 per cent of all enterprises in the country. With 70 per cent of the total workforce in the country employed by SMEs, they play an important role in the socio-economic development of Myanmar. The SME Development Law of 2015 has re-defined the SME sector, which has led to the development of several committees to promote the development of SMEs. But till date, SMEs face multiple challenges on all fronts - weak infrastructure, lack of skilled manpower, cumbersome bureaucratic processes, and limited access to finance, especially for sustainable consumption and production (SCP) practices. This study offers a review of the current green finance landscape in Myanmar and examines existing opportunities for green finance, areas for improvement and trends ahead.