YANGON - The World Bank will spend US$ 2 billion on poverty
elimination programs, as well as ensuring access electricity according
to World Bank president Jim Yong Kim.
Jim Yong Kim, president of the World Bank, is on his first two-day
visit to Myanmar. He visited a township hospital in Yangon and he will
be attending 2nd Myanmar’s Development Cooperation Forum to be held in
Nay Pyi Taw on Monday.
The World Bank delegation will also meet with government
representatives including President Thein Sein, opposition leaders and
businessmen.
US$ 1 billion out of 2 billion of the Bank's loans will go towards
electricity production, in a push to provide for up to three-quarters of
the country's 60 million people who do not have access to electricity.
The World Bank will work with the National Level Power Supplying
project, currently being implemented by the Myanmar government, to help
reform basic principles, rules and regulations to build a healthy
investment climate.
The president of the World Bank said that they will implement their projects rapidly so that the results may felt immediately.
The International Development Agency, International Financial
Cooperation and MIGA Multi-Investment Guarantee Agency -- which are
subsidiary of World Bank -- will cooperate together to fulfil the
government’s long term development programs.
Source:Eleven Media
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