ADB still observes development project in Dawei

Against Bloomberg’s article on April 11 that ADB is unlikely to lend to the project, Steffensen said Dawei Development Project is an interesting undertaking and ADB will be monitoring developments closely. 
“I have discussed the Dawei Development Project (DDP) with Italian-Thai Corporation representatives and have suggested that, in addition to the constraints (mentioned below), due diligence would be required before ADB could consider support,” he said in a letter to The Nation.
In his letter, he recognised hat Dawei is at the western end of the Southern Economic Corridor, a route extending from Vietnam, Cambodia and Thailand to the Andaman Sea, a gateway to markets in South Asia, the Middle East, Africa and Europe.
“Construction of this corridor is a key infrastructure project being planned by members of the Association of Southeast Asian Nations and has the potential to emerge as an important economic gateway for the Greater Mekong Subregion, one that could shorten transport times by as much as three days. The implications of such a development to the region's companies and consumers are tremendous.
“The Asian Development Bank (ADB) has not had operations in Myanmar since the 1980s, and any resumption of lending operations in Myanmar is subject to satisfactory progress in the country's engagement with the international community, and a resolution of arrears.
“At present, ADB staff are carrying out a series of economic and sector assessments on Myanmar to deepen our knowledge of core aspects of economic governance.”