In previous posts we mentioned the plans of Myanmar’s government to launch a microcredit scheme for their citizens. A note published by the Malaysian National News Agency reveals that the plans have finally taken shape. The first micro-credit schemes will be set up in four townships on the west bank of the Chindwin River in Monywa, northwestern Sagaing region. A total of US $333,000 will be injected into the first part of the scheme which will kick off next December. Myanmar is working to reduce the poverty rate down to 16 percent in 2015, narrowing the gap between rural and urban areas. Of Myanmar’s total population 70% live in rural areas. After the elections in 2010 the country is a unitary presidential republic, governed by Thein Sein, a moderate reformist.

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