Myanmar and World Bank renews US$1.2bn development aid agreement

Farmers plough the land with buffaloes in Naypyitaw, Myanmar. Photo: Hein Htet/EPA

Myanmar and the World Bank Group have agreed to a two-year extension of a partnership that will promote growth in rural areas, improve nutrition, health and education services, build infrastructure and create more jobs, state media reported on 25 June.

The renewal of the Country Partnership Framework (CPF) that began in 2015 is to help the country develop, especially in poorer rural areas. It was Myanmar’s first full, nationwide strategy to improve development and human capital in 30 years.

The decision to extend the partnership is in keeping with Myanmar’s mission of responsible development, increased infrastructure and the betterment of its people, officials said.

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