Myanmar and ADB

ADB has temporarily put on hold sovereign project disbursements and new contracts in Myanmar effective 1 February 2021. ADB is closely monitoring the situation in Myanmar and remains committed to supporting its people.

ADB's Work in Myanmar

ADB remains deeply concerned about recent developments in Myanmar and will continue to consult with shareholders and other stakeholders on its operations in the country, which have temporarily been placed on hold since 1 February 2021.

 Myanmar joined ADB in 1973. ADB did not have operations in Myanmar from 1988 to July 2012, although the country, as a member of the Greater Mekong Subregion program, participated in ADB-assisted regional activities. Since reengagement in early 2012, ADB had supported Myanmar’s national development strategies and priority programs. ADB provided finance, technical assistance, and knowledge support to strengthen the country’s economic foundations and better ensure sustainable growth and poverty reduction. ADB also supported capacity enhancement, institutional evolution, and sectoral reforms. 

Myanmar’s economy has been held back by volatility, instability, and high inflation in recent years, resulting in suboptimal growth. Following an annual average growth rate of 6.7% from 2011 to 2020, the economy is projected to grow at just 2.8% in 2023 and 3.2% in 2024. Due to the economic downturn, many households struggled to make ends meet, and access to food became increasingly difficult. About 15.2 million people were estimated to suffer from moderate or severe food insecurity in 2023, up from 13.2 million in 2022. The percentage of people living in poverty increased to 46.3% in 2022 from 22.4% in 2018.

ADB had committed 120 public sector loans, grants, and technical assistance totaling $3.7 billion to Myanmar. ADB’s ongoing sovereign portfolio in Myanmar includes 18 loans and 2 grants worth $2.44 billion.1 Cumulative sovereign and nonsovereign loan and grant disbursements to Myanmar amount to $2.18 billion. These were financed by regular and concessional ordinary capital resources, the Asian Development Fund, and other special funds.

Nonsovereign operations. Total outstanding balances and undisbursed commitments of ADB’s nonsovereign transactions in Myanmar as of 31 December 2021 amounted to $702.49 million, representing 5% of ADB’s total private sector portfolio

Operational challenges. Myanmar is classified by ADB as a developing member country in a fragile, conflict-affected situation. The country faces challenges such as armed conflict, political instability, governance issues, and limited institutional capacity. These posed significant constraints and risks to procurement processes, compliance with safeguards, and portfolio management. As a result, prior to the 2021 temporary hold on sovereign project disbursements and new contracts, ADB operations were already under considerable pressure.

Photo: Dreamstime
A woman in red walks across Taungthaman lake on the Ubein Teak bridge in Amarapura, Myanmar. Photo: Simon Hack/Dreamstime
 

Knowledge Work

Before February 2021, ADB supported targeted research, analysis, policy dialogue, and learning events to meet the knowledge needs of Myanmar. 

ADB actively participated in an annual joint country portfolio assessment with key development partners. ADB had collaborated closely with its partners to enhance understanding in critical areas such as infrastructure, macroeconomic management, private sector development, and human capital development. As a member of the Cooperation Partners Group2 , ADB had actively participated in policy discussions focusing on the overall management of development aid. ADB’s previous engagement highlighted its commitment to fostering sustainable development and growth. 

Discussions and selected data on Myanmar’s macroeconomic situation post-February 2021 are included in the Asian Development Outlook (ADO) April 2023 and ADO September 2023.

Shareholding and Voting Power

Number of Shares Held
57,810 (0.543% of total shares)

Votes
96,924 (0.729% of total membership, 1.119% of total regional membership)

*Overall capital subscription
$775.62 million

*Paid-in capital subscription
$38.8 million

* United States dollar figures are valued at rate as of 31 December 2023.

Contacts

Nay Pyi Taw Office
Park Royal Hotel, Gangaw Villa
13/14 Hotel Zone, Dekhina Thiri Township
Nay Pyi Taw, Myanmar
Tel: +95 67 8106280-86
Fax: +95 67 3407563

Yangon Office
Union Business Center, Room 0405, 4th Floor
Nat Mauk Road, Bo Cho Quarter, Bahan Township
Yangon, Myanmar
Tel: +95 1 543426
Fax: +95 1 8603439

 

Financing Partnerships

Financing partnerships enable ADB’s partner governments or their agencies, multilateral institutions, and private organizations to participate in ADB projects. The additional funds may be in the form of loans and grants, technical assistance, and nonsovereign cofinancing

Cumulative cofinancing commitments in Myanmar:

  • Sovereign cofinancing: $1.84 billion for 19 investment projects and $79.97 million for 44 technical assistance projects since 1973
  • Nonsovereign cofinancing: $385.34 million for 5 investment projects since 2012

This article was originally published in the ADB and Myanmar: Fact Sheet. Updated yearly, this ADB Fact Sheet provides concise information on ADB's operations in the country and contact information.

Latest on Myanmar

{ title }}

| News Release

ADB Statement on New Developments in Myanmar

The Asian Development Bank 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.

Globalization and Equality: A Cross-Country Analysis

| Publication

Globalization and Equality: A Cross-Country Analysis

Developing countries should improve their foreign direct investment (FDI) environment to attract FDI and upgrade the quality of unskilled labor.

A Framework for Financing Transport Connectivity in the BIMSTEC Region

| Blog Entry

A Framework for Financing Transport Connectivity in the BIMSTEC Region

Transport connectivity is essential for regional cooperation and integration. An efficient transport network boosts free trade area, promotes trade and investment, and advances cooperation in tourism and cultural exchanges.

Asian Development Bank and Myanmar: Fact Sheet

| Publication

Asian Development Bank and Myanmar: Fact Sheet

ADB will continue to consult with shareholders and other stakeholders on its operations in Myanmar, which have temporarily been placed on hold since 1 February 2021.