Myanmar : Innovative Trade Promotion in Myanmar
The project is designed to establish a $65 million corpus of the Myanmar Trade Promotion Fund (MTPF) within Ministry of Commerce (MOC). The MTPF will lend to qualified participating financial institutions (PFIs) who will on-lend to mid-sized export units . The exporters will use the funds to cover capital costs to expand production and value addition in strategic export sectors. IN addition, the exporters can also use the funds to obtain sanitary and phytosanitary compliance certification to expand market access. The proposed MTPF will support sectors that are prioritized by the New Export Policy (2015-2019). The proposed MTPF supports other elements of the export strategy including developing trade logistics and infrastructure, trade certification, and trade agreements
Project Details
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Project Officer
Rao, Vivek
Southeast Asia Department
Request for information -
Country/Economy
Myanmar -
Sector
- Industry and trade
| Project Name | Innovative Trade Promotion in Myanmar | ||||||||
| Project Number | 52308-001 | ||||||||
| Country / Economy | Myanmar |
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| Project Status | Proposed | ||||||||
| Project Type / Modality of Assistance | Grant Loan |
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| Source of Funding / Amount |
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| Strategic Agendas | Inclusive economic growth Regional integration |
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| Drivers of Change | Gender Equity and Mainstreaming Governance and capacity development Knowledge solutions Private sector development |
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| Sector / Subsector |
Finance / Small and medium enterprise finance and leasing Industry and trade / Trade and services Public sector management / Economic affairs management |
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| Gender | Some gender elements | ||||||||
| Description | The project is designed to establish a $65 million corpus of the Myanmar Trade Promotion Fund (MTPF) within Ministry of Commerce (MOC). The MTPF will lend to qualified participating financial institutions (PFIs) who will on-lend to mid-sized export units . The exporters will use the funds to cover capital costs to expand production and value addition in strategic export sectors. IN addition, the exporters can also use the funds to obtain sanitary and phytosanitary compliance certification to expand market access. The proposed MTPF will support sectors that are prioritized by the New Export Policy (2015-2019). The proposed MTPF supports other elements of the export strategy including developing trade logistics and infrastructure, trade certification, and trade agreements | ||||||||
| Project Rationale and Linkage to Country/Regional Strategy | A focus area for NES implementation is small and medium enterprises (SMEs). However, SMEs, especially medium enterprises, have poor access to finance, use old technology, and have weak logistical support. Thus, SMEs are a priority in the Sustainable Development Plan. Weak SME exports contribute to Myanmar's trade deficit, which has widened to around 5% of GDP in 2017 2018 financed by foreign direct investment keeping currency reserves at 3 months imports. Myanmar's trade deficit is growing and expected to reach around 6% of GDP. In response, the NES has identified several SME related export policies, including: (i) access to finance like government facilities, guarantees, bank credit; (ii) quality management for long-term market access; (iii) export promotion through market information; and (iv) trade facilitation and logistics including cold-chains, cargo systems, and legal reform. | ||||||||
| Impact | Improved Export Performance in Select Sectors (Myanmar Sustainable Development Plan (2018 2030) | ||||||||
| Outcome | Improved export environment | ||||||||
| Outputs | $65 million FI loan to establish the Myanmar Trade Promotion Fund (MTPF) in Ministry of Commerce (MOC). Functions such as trade promotion, permit issuance, licensing and gender mainstreaming supported. | ||||||||
| Geographical Location | Nation-wide | ||||||||
| Safeguard Categories | |
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| Environment | FI-C |
| Involuntary Resettlement | FI-C |
| Indigenous Peoples | FI-C |
| Summary of Environmental and Social Aspects | |
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| Environmental Aspects | |
| Involuntary Resettlement | |
| Indigenous Peoples | |
| Stakeholder Communication, Participation, and Consultation | |
| During Project Design | |
| During Project Implementation | |
| Responsible ADB Officer | Rao, Vivek |
| Responsible ADB Department | Southeast Asia Department |
| Responsible ADB Division | Public Management, Financial Sector and Trade Division, SERD |
| Executing Agencies |
Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550, Philippines |
| Timetable | |
|---|---|
| Concept Clearance | 14 Dec 2020 |
| Fact Finding | 18 Jan 2021 to 29 Jan 2021 |
| MRM | 26 Mar 2021 |
| Approval | - |
| Last Review Mission | - |
| Last PDS Update | 30 Sep 2020 |
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