WB pledges 2 billion USD for Myanmar
The World Bank (WB) has announced a 2 billion USD development programme
for Myanmar to help the country implement energy and healthcare
projects.
The World Bank (WB) has announced a 2 billion USD development programme
for Myanmar to help the country implement energy and healthcare
projects.
During his first visit to Myanmar in January 26, WB President Jim Yong Kim said half of the amount will be used to expand energy supplies in the country, where a great number of residents are yet to gain access to reliable electricity.
He stated that the WB is increasing its support for Myanmar ’s underway huge reform effort because the bank wants to help the country’s Government bring benefits to poor people more quickly.
The expansion of electrical network in a country like Myanmar can contribute to transforming the society, he said, adding that electricity helps wipe off poverty.
The WB-funded programme also includes a financial assistance worth 200 million USD to help Myanmar achieve universal healthcare coverage before 2030. Only one in four people in Myanmar has access to quality healthcare services.
The bank closed its Yangon office in 1987 and ceased new lending after Myanmar stopped making payments on debts left from previous programmes.
In 2013, Myanmar paid its arrears to the WB and the Asian Development Bank (ADB) thanks to a bridging loan from Japan, enabling the two lenders to resume assistance to the country.-VNA
During his first visit to Myanmar in January 26, WB President Jim Yong Kim said half of the amount will be used to expand energy supplies in the country, where a great number of residents are yet to gain access to reliable electricity.
He stated that the WB is increasing its support for Myanmar ’s underway huge reform effort because the bank wants to help the country’s Government bring benefits to poor people more quickly.
The expansion of electrical network in a country like Myanmar can contribute to transforming the society, he said, adding that electricity helps wipe off poverty.
The WB-funded programme also includes a financial assistance worth 200 million USD to help Myanmar achieve universal healthcare coverage before 2030. Only one in four people in Myanmar has access to quality healthcare services.
The bank closed its Yangon office in 1987 and ceased new lending after Myanmar stopped making payments on debts left from previous programmes.
In 2013, Myanmar paid its arrears to the WB and the Asian Development Bank (ADB) thanks to a bridging loan from Japan, enabling the two lenders to resume assistance to the country.-VNA
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