Myanmar and ADB
In the Spotlight
The Greater Mekong Subregion has an opportunity to build on its success in promoting connectivity, economic competitiveness, and community through a new investment plan presented at the 5th GMS Leaders' Summit in Bangkok.
ADB Country Director in Myanmar Winfried Wicklein sees off youth representatives on an ADB-sponsored journey to the Greater Mekong Subregion and the 5th GMS Summit in Bangkok.
An old ADB road stands the test of time in Myanmar, while new road upgrades designed to benefit farming communities in the country’s Ayerwaddy Delta are in the planning stage.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
Emerging from decades of economic, social, and political isolation, Myanmar today shows strong potential for inclusive growth and poverty reduction. Strong investment and improved business confidence underpin the country's economic growth performance. At 7.8% in 2014, economic growth was driven by commodity exports, buoyant tourism, and credit growth.
Sustaining Myanmar's development performance depends on continued reform momentum, the strengthening of institutions and capacities, and concerted efforts to improve infrastructure and service delivery. ADB's interim country partnership strategy for 2012-2014, which has been extended to 2016, seeks to support Myanmar in achieving sustainable and inclusive growth for job creation and poverty reduction.
61.65(2013) Population in millions
1.1%(2008-2013) Average annual population growth rate
25.6%(2010) Population living below the national poverty line