UK’s DFID DaNa Facility backs two inclusive project grants in Myanmar

Tom Coward, Team Leader of DFID Myanmar.

The DaNa Facility, a UK Department for International Development (DFID) funded programme, ICCO Cooperation and local community hub Phandeeyar are jointly awarding about $1 million in grants to two inclusive businesses projects in Myanmar, according to an announcement.

ICCO Cooperation is an international development organisation that operates across Asia, Africa and Latin America.

Accelerate Inclusive Burmese SMEs for Shared Prosperity project, the first initiative, will be implemented by ICCO Cooperation and two specialist partners, One to Watch, an investment management company, and Truvalu that develops food supply chains linking SMEs.

AccelerateMM, the second project, will be implemented by Phandeeyar, which aims to use technology to grow inclusive businesses in Myanmar.

The ICCO-led project will be receiving £250,523 (about $326,000) and Phandeeyar’s AccelerateMM project will get around £436,681 (about $568,000) in grants.

“It is important to build a strong inclusive business ecosystem because it can have a huge positive social impact, and help to steer the whole economy in a positive and inclusive direction,” said Tom Coward, team leader of DFID Myanmar Inclusive and Livelihoods team.

Each of the two projects will incubate at least 10 enterprises in the priority areas of agritech, fintech, health and education sectors in Myanmar.

According to the Global Impact Investment Network, Myanmar has received commitments of only about $56 million in impact investing as of 2016. Many of the impact investors are said to be serving the market from outside due to the limited opportunities that fall under the radar of impact investment.

DaNa Facility’s approach is to support the incubation/acceleration of inclusive business models. So far, DaNa has provided around £10 million of grant funds to 11 private enterprises in agribusiness, financial services and textiles.

Also Read:

Impact investments in Myanmar gather momentum but still to scale up

Rockefeller Foundation seeks to boost Asia impact funding by tapping local investors

Omidyar considers tech and media firms in Myanmar for fresh investments

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.