ADB announces short-term goals for Myanmar

Nov 01, 2012    

The Asian Development Bank has approved a strategy to guide its work in Myanmar for the year 2014.

The Asian Development Bank has taken another step toward full re-engagement in Myanmar. The bank has approved an interim strategy designed to guide its work in the country through 2014.

The approval of the plan on October 26, however, does not signal the resumption of ADB loans, projects and programs in Myanmar. The resumption of these operations is contingent on Myanmar clearing approximately $500 million of its debt to ADB. The country is expected to clear its arrears with ADB and the World Bank starting January 2013 through a plan adopted in August.

The interim country partnership strategy is to serve as a framework that will “set the parameters” for future programs and projects, according to Stephen Groff, ADB vice president responsible for operations in East and Southeast Asia, and the Pacific.

“It essentially sets the boundaries around what we would do — and it’s something we have to have in place before we can move on to the next phase. In that sense, it is vital,” Groff said.

http://southasia.oneworld.net/news/adb-announces-short-term-goals-for-myanmar