Myanmar and ADB
In the Spotlight
Modern water supply and wastewater treatment services are paving the way for the transformation of the city of Mandalay in upper Myanmar into a prosperous, green urban center.
Government ministers and senior officials attending the Greater Mekong Subregion (GMS) Seventh Economic Corridors Forum agreed on measures to promote the development of economic corridors, facilitate cross-border transport and trade, and enhance cooperation and private sector participation.
ADB and the Government of Myanmar signed a non-sovereign framework agreement that will allow ADB to provide loans, equity investments, guarantees, and trade financing directly to private companies and projects in the country.
The Government of Myanmar’s ambitious structural reform program has underpinned strong growth in recent years and this is set to continue in 2015, says a new ADB economic report
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.
Myanmar is striving for inclusive economic growth and poverty reduction, with strong potential for high growth in the years ahead. The country enjoys abundant natural resources, a strategic location at the crossroads of Asia, and a large, youthful population. Emerging from decades of economic and political isolation, Myanmar represents a sizable market, with wide-ranging investment opportunities.
Since reengaging with Myanmar in early 2012, ADB has prepared comprehensive economic and sector work, while establishing dialogue with the government, civil society organizations, the private sector, and other development partners. ADB built an operational program and prepared an interim country partnership strategy, 2012–2014 for Myanmar, which has been extended to 2016. Lending operations have resumed, and technical assistance grants have been implemented for advisory services, capacity building, and project preparation. In April 2014, ADB established its Myanmar Resident Mission, with offices in Nay Pyi Taw and Yangon.