WB to invest $2bn in Myanmar
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On his first visit to Myanmar, President Jim Yong Kim announced on Sunday the World Bank Group's plan for a US$2 billion multi-year development programme.
It will include projects that dramatically improve access to energy and health care for poor people and support other key government development priorities.
He announced the major increase in new financial support at a community health clinic in Yangon where he was joined by the Myanmar Minister of Health, Dr. Pe Thet Khin. They met doctors, local residents, and members of the international donor community and Kim pledged the funding will help improve the lives of the poorest people and support ongoing reforms in Myanmar.
“We are increasing our support for the huge reform effort underway in Myanmar because we want to help the government bring benefits to poor people even more quickly,” said Kim.
“Our US$2 billion dollar multi-year programme will support the government’s plans to deliver universal health care to citizens and to help everyone in the country gain access to electricity by 2030.”
The World Bank Group will harness expertise and resources from IDA, IFC and MIGA to support the government’s multi-year investment program. This will include US$1 billion in Bank Group financial support to expand electricity generation, transmission and distribution. Over 70 per cent of Myanmar’s people do not have access to reliable electricity.
