The Myanmar Centre for Responsible Business (MCRB) and DaNa Facility have signed a two-year grant agreement, involving approximately US$1.2 million for 2017-18, to encourage responsible business activities across the country.

Director of Myanmar Centre for Responsible Business Vicky Bowman speaks to reporters. Naing Wynn Htoon / The Myanmar Times

The Yangon-based MCRB is an initiative funded by the UK, Denmark, Norway, Switzerland, the Netherlands and Ireland. The organisation serves to provide a platform for the creation of knowledge, capacity and dialogue concerning responsible business in Myanmar, based on local needs and international standards, which results in more responsible commercial practices. The MCRB works with domestic and international businesses, civil society groups and the Myanmar government.

DaNa supports private sector development and inclusive economic growth in the country, through responsible and sustainable business growth, investment and trade. Established in May 2016, DaNa is funded by the UK Department for International Development (DFID).

DFID has contributed approximately half of the total funding for the MCRB since the centre’s establishment in 2013. The grant agreement is a continuation of DFID’s direct funding for the MCRB in 2013-16.

The funds are £930,000 (approximately $1.2 million) for 2017 and 2018.

Peter Brimble, team leader for DaNa, told The Myanmar Times that DaNa will be supporting around half of MCRB’s financial resources in order to collaborate on promoting responsible and inclusive economic development.

“DaNa Facility is supporting around half of MCRB’s expenses with a view to jointly working to promote responsible and inclusive business in Myanmar,” he said.

He added that the MCRB program complements DaNa initiatives to reform the business environment at national and sub-national levels, as well as to collaborate with the private sector.

“In particular, given our shared focus on the links between responsible and inclusive business, we look forward to close collaboration in raising awareness of inclusive business in both the public and private sectors,” he explained.

“We look forward to working with the DaNa Facility and the other programs it funds as we see many synergies with our work with the private sector, government and civil society,” Vicky Bowman, MCRB director, said in the organisation’s press release.

The premise of the MCRB is that international standards on responsible and sustainable business, such as the UN Guiding Principles on Business and Human Rights, will be important building blocks for the type of growth and development in the country which can deliver the Sustainable Development Goals (SDGs), according to the press release.

It added that responsible and inclusive business creates employment opportunities and brings economic benefits and well-being for millions of poor people in Myanmar.

“Together with political stability, inclusive economic growth is a precondition for Myanmar’s transition to a stable democracy based on rule of law, human freedom and dignity,” the press release stated.

The UK remains one of the largest donors to Myanmar, committing £291 million (approximately $450 million) to support the country in 2011-16.

DFID’s funding focuses five areas: governance and public financial management, promoting responsible investment, improving transparency, strengthening the work of the legislature and helping the process of ethnic reconciliation.

Earlier this month, DaNa and the US-based Asia Foundation launched a three-year DFID-funded program to improve Myanmar’s sub-national business environment. The core part of the program will be establishing the Myanmar Business Environment Index (MBEI), which will identify key constraints and areas for improvement in the regulatory environment at the state and regional level and raise awareness among key stakeholders on opportunities for reform.

For more details : http://www.mmtimes.com/index.php/business/26968-dfid-continues-to-fund-mcrb-via-dana-facility.html