SMART Myanmar and AYA Bank recently signed an MoU in order to facilitate green finance in Myanmar’s garment sector, increasing factories’ access to funding for environmentally sustainable and energy saving improvements. SMART Myanmar is a project implemented by Sequa and operated in collaboration with the Myanmar Garment Manufacturers Association (MGMA) and the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP). It has been working with garment factories and banks to generate practical solutions to these issues.

The MoU is aimed at identifying and piloting so-called “bankable green projects” within the coming twelve months. This, it is hoped, can inspire further green lending programmes in the years to come. SMART Myanmar has also received EU funding and with the help of Myanmar’s fastest growing bank AYA, is now in prime position to deploy new services to the nation’s garment sector and to quickly scale-up best practice solutions.