World Bank discusses $300m in new Myanmar loans
The World Bank is discussing the possibility of extending new loans to support Myanmar in areas such as financial sector development, budget support and disaster risk management.
This fiscal year, Myanmar has access to around US$480 million in International Development Association resources, said senior economist Habib Rab.
Of this, $100 million plus another $100 million from a separate IDA crisis response window is already committed for a flood and landslide emergency recovery project, he said.
The World Bank also plans to loan $100 million to the Ministry of Planning and Finance for a financial sector development project planned for this fiscal year.
“For the remaining $280 million, we are still in discussions with the government on possible areas of support, which could include health, disaster risk management and development policy financing,” Mr Rab said.
The World Bank’s existing loan program extends across the power, health, education, agriculture, energy and communication sectors.