In January 2020, IME Foundation was registered as a not for profit organisation. IME Foundation is an independent entity with a dedicated governance and accounting system. Its funding comes from IME Group and Nay Min Kabar Gems & Jade Co.,Ltd.
Priorities and governance
Under the patronage of Daw Phon Su and leadership of U Zaw Myint Htoo, IME Group’s CEO and founder, IME Foundation focuses its efforts on three areas:
- Basic Education: offering better opportunities to the younger generation is essential for making our future better. Therefore, IME Foundation provides specific support to primary, secondary and high schools across Myanmar.
- Higher Education: human resource is the main engine to Myanmar development and many talented students lack financial capacity to go to university. Thus, we support talented students from 1st year of university till graduation.
- Disaster relief: Myanmar is a country frequently impacted by natural disasters and affected communities often lack financial capacity to rebuild their village and community. IME Foundation offers aid to affected citizens to help them rebuild their village and community.
A Board of Trustees ensures that the Foundation’s objective is fulfilled:
- The Board is chaired by U Zaw Myint Htoo. His primary responsibility is to ensure that the 12 other members are performing their duties effectively.
- The Board has 4 Committees ( one for the primary education, one for higher education, one for the disaster relief, and one for finance). Each Committee has 3 Members, and they all have to report their results to the Board.
The IME Foundation will complement the initiatives of the Group related to sustainability.
The IME Foundation has signed a Memorandum of Understanding with the Ministry of Education to provide scholarships up to 60 students yearly. Each year, the Foundation will provide scholarship to support 15 new students whose parents cannot afford to support them. By 2025 and onward IME foundation will be providing MMK 120-150 million to 60-75 students yearly.
The Students will study various disciplines (see below). IME Foundation’s efforts will contribute to developing the skills Myanmar needs to build a better future.