World Bank Vice President for East Asia and Pacific Axel van Trotsenburg will visit Myanmar this week to launch the World Bank Group’s new Country Partnership Framework with Myanmar in support of Myanmar’s policies, programs, and investments to help reduce poverty and improve people’s lives according to a press release issuedAnchor yesterday.
According to Mr van Trotsenburg “Myanmar’s increased openness offers opportunity to help address pressing development needs. The challenge is to sustain reforms and development gains over the long term, including through lasting peace . . . While the development effort lies in the hands of the people of Myanmar, the international community can play an important supportive role, including multilateral institutions such as the World Bank Group.”
The 2015-17 Myanmar Country Partnership Framework (CPF) provides for up to $1.6 billion in credits, loans and grants, as well as technical assistance and knowledge from the International Development Association (IDA), the Bank’s fund for the poorest countries. Myanmar will also receive up to $1 billion in investments and $20 million in technical assistance from the International Finance Corporation (IFC), the private sector arm of the World Bank Group.
Mr van Trotsenburg said that “Millions of people in Myanmar will benefit. We are focusing on the three vital areas: poverty, people and jobs. Reducing rural poverty, providing basic services, and stimulating the private sector,”
During his four day visit to Myanmar, van Trotsenburg will visit Yangon and Nay Pyi Taw for discussions with senior political leaders, the private sector, and development partners. He will also visit Myeik, the capital city of the Tanintharyi Region in southern Myanmar, to observe results of the National Community Driven Development Project, the first project receiving World Bank Group support after 25 years. The project enables poor, rural and remote communities to benefit from improved access to basic infrastructure and services.