Partnering for financial inclusion
Making Access Possible (MAP) is a diagnostic and programmatic framework to support expanding access to financial services for individuals and micro-and small businesses. The MAP methodology and process has been developed jointly by UNCDF, FinMark Turst and Cenfri to foster inclusive financial sector growth. The first MAP Myanmar was conducted in 2013.

At country level, the core MAP partners collaborate with Government, stakeholders and donor to ensure an inclusive, holistic process.re

KEY FINDINGS

• Adults using formal financial services rose from 30% to 48% over 2013 to 2018. More significantly, adults using more than one product or service expanded almost threefold from 6% to 17%. Service expansion was largely driven by considerable growth within the MFI and Cooperative sectors.

• Saving participation experienced notable growth, albeit, in the informal sector through saving groups, gold and cash with minimal formal growth mostly from an uptake in private bank deposit accounts.

• Farming is a prime livelihood for 23% of adults, self-employment (26%) primarily small retail services, and formal employment (6%)

• High income disparities between males and females. Women have more access to microfinance and less access than men to SME financing. Women are more likely to be dependent on family and household members as a main income source

• Phone ownership increased rapidly leading to emerging mobile money uptake, 2% of adults, with indications of impressive growth over the near and long term.

• Adults are less dependent solely on informal financial services with a 10 percentage point drop from 2013. Informal services are mainly used for living expenses and meeting goals such as education and buying farming equipment

• Money lender (425,000) maintain the highest penetration levels (over 4 M clients) in the informal market yet with declining rates due to increased formal competition, in some rural markets

• Rural financial inclusion expanded during the five year period as non-bank access grew significantly as well as bank payment and deposit services.