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
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