World Bank to provide assistance for development of Myanmar’s infrastructures

To create a sound environment for investments, the World Bank (WB) will help Myanmar wtih development of key infrastructures, including Yangon housing projects.

The World Bank had lent US$ 165 million without interest for development of the country.

The WB will lent further US$ 80 million for development programmes, including supplying of electricity, transport net work, as well as implementation for construction of schools, hospitals and clinics and availability of drinking water across the country.

“As World Bank provides assistance, Myanmar needs to become a sound environment for investments. We have already agreed to help the infrastructure development programs such as construction of schools, roads and bridges, supplying electricity and drinking water,” Tin Maung Than, a business researcher said.

“We are worried about the high prices of housing estates and land. So, We are planning now to implement the housing development projects with the loan assistance from the World Bank and International Finance Corporation(IFC),” an official from WB said.

Myanmar government has already signed a mutual agreement with the WB for implementation of development programmes such as poverty alleviation, economic development, creating jobs, financial management, and energy sector.

source: Eleven Myanmar

http://elevenmyanmar.com/business/3322-world-bank-to-provide-assistance-for-development-of-myanmar-s-infrastructures