Aid organisations operate at the sharp end of international payments. Often, those countries that most need their support are those that are most difficult to reach with life-critical funds. So it's with great pleasure that we welcome a successful new partnership with one of the world's leading NGOs.
Myanmar has suffered a troubled history since becoming independent in 1948. Unrest and civil war has produced widespread deprivation and human rights atrocities. Our client seeks to bring solace to a nation that ranks among the world's lowest in terms of human development. Sadly, widespread corruption creates obstacles to settling funds into the country. Ranked 157th out of 180 countries in Transparency International's 2022 Corruption Perception Index, it presents severe challenges to any organisation trying to make financially compliant payments into the country.
So it was with this NGO, which was experiencing delays, challenges to transparency and increasing cost of settlements to Myanmar. Helping struggling regions to become self-sufficient was core to our rationale in creating Clarency, so there was an obvious matching of aims here. Working through our strong global partnership network, we were able to perform detailed due diligence on the remitter of the funds within four days, and settle the first disbursement of funds on the ensuing day.
We're now working closely with with this aid organisation to explore how we can streamline our partnership still further to help more aid reach more people, with the transparency that doesn't just comply with banking regulations, but that helps ensure that those most in need receive the support they deserve.