City Mart secures loan from IFC

13 January 2016
City Mart secures loan from IFC
A customer comes out from City Mart supermarket after shopping in Yangon, Myanmar, 12 January 2016. Photo: Lynn Bo Bo/EPA

City Mart Holding Company Ltd, Myanmar’s largest retail group, has secured a US$25 million loan from the International Finance Corporation (IFC), a member of the World Bank Group, to finance the construction of about 20 more supermarkets and hypermarkets across the country over the next three years, Thailand’s The Nation reported on 13 January.
The $25-million loan will be part of CMHL's plan to invest a total of $46 million (Bt1.67 billion) in the expansion project. 
Founded in 1996, CMHL now has more than 150 retail outlets. The expansion will enable the company to integrate more farmers, micro, small and medium-sized enterprises, and others into its supply-chain and distribution networks, the report said.