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JAN 29, 2013 - New Statesman

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ADB and World Bank grant $952m loan for Burma

“This is a historic tipping point for Myanmar”. The Asian Development Bank (ADB) and the World Bank have granted loans worth $512m and $440m respectively for the social and economic development of Burma. The country, also known as Myanmar, has repaid overdue arrears to the banks with the support of Japan. Annette Dixon, country director for Myanmar at the World Bank, said: “Myanmar has come a long way in its economic transformation, undertaking unprecedented reforms to improve people's lives, especially the poor and vulnerable. Much work remains to be done. We are committed to ... Read More

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