Obama signs bill backing financial institutions' support for Myanmar

The legislation, passed by Congress last month, comes as the United States lifts financial and other sanctions on Myanmar to reward political reforms engineered by President Thein Sein after decades of military rule.

The World Bank, International Monetary Fund and the Asian Development Bank are considering providing up to US$900 million in loans to Myanmar, Japanese daily Nikkei reported. However, Myanmar must pay back the outstanding loans of these banks.

US Secretary of State Hillary Clinton told President Thein Sein on September 26 during his visit to the US that the US will begin the process of easing restrictions on import of goods from Myanmar. 

“We will begin the process of easing restrictions on imports of Burmese goods into the United States. We hope this will provide more opportunities for your people to sell their goods into our market,” she said.

Aung San Suu Kyi expressed support for the further easing of sanctions against the country during talks with Clinton at the US Institute of Peace in Washington DC on September 18.

“I want our people to be responsible for their own destiny and not to depend too much on external support. We don’t need to cling to sanctions unnecessarily. In the end, we have to build our own democracy ourselves. The US can help us in other ways,” she said.

As a reward for the democratic reform process in Myanmar, the US is easing sanctions imposed on the resource-rich Southeast Asian country. 

In another development, hundreds of well-wishers welcomed Suu Kyi at Yangon International Airport as she arrived back in Yangon on Thursday night after her US tour.

Wrapping up her triumphant tour, she flew in at 9.45pm from Los Angeles by Korean Air. A large crowd, including members from the National League for Democracy (NLD) Party, and other artists were there to greet her.

“Just as General Aung San got us independence from colonial rule, Daw Aung San Suu Kyi has given us democracy,” said a young well-wisher from Sangchaung Township. “I have come to welcome her home because I believe that she is a good leader for the public. It’d have been better if the well-wishers and supporters had been more disciplined and didn’t disturb other travelers,” he said, pointing to the commotion.

Aung San Suu Kyi greeted the supporters and told them that this is not the time to sit down and take it easy and it is the time for everyone to work together in unity.

Aung San Suu Kyi began her 17-day tour of the US on September 16.

During her visit, Aung San Suu Kyi met US President Barack Obama, US Secretary of State Hilary Clinton, Congress leaders, and members of the Myanmar community living in the US.

She also met Myanmar President Thein Sein who had travelled to New York to attend the UN General Assembly.

In his speech to the UN General Assembly, President Thein Sein had praised the Nobel laureate for the honours she received in the US.

The Nobel laureate received several awards, including the Congressional Gold Medal – the highest civilian award in the US.

Suu Kyi has also accepted India’s invitation to deliver a speech at the birth centenary commemoration of former Indian independence leader Pandit Jawaharlal Nehru in November, according to The Times of India’s website.

Although the dates have not been announced, it is expected to be held in the third week of November, making it her first visit to India since the end of her house arrest in November 2010.

Suu Kyi received the Jawaharlal Nehru Award in 1991 for international understanding.

She has said that she regards Mahatma Gandhi and Nehru as her idols.