MANILA, PHILIPPINES (10 March 2021) — The Asian Development Bank (ADB) remains deeply concerned about recent developments in Myanmar, especially the loss of life during civil protests. These events will have a serious impact on the country’s economic and social development.
As the international community assesses the evolving situation, ADB has placed a temporary hold on sovereign project disbursements and new contracts in Myanmar effective 1 February 2021, consistent with our internal guidelines. We will continue to consult with shareholders and other stakeholders.
ADB is a key development partner to Myanmar, and we will continue to monitor the situation, including the impact of the coronavirus disease (COVID-19) pandemic.