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World Bank to open office in Myanmar

United States America,Business/Economy, Fri, 27 Apr 2012 IANS

Washington, April 27 (IANS) The World Bank will open an office in Myanmar in June, a bank official said Thursday.


"In early June, we will be opening an office in Myanmar, which will be led by a new country manager," said Pamela Cox, World Bank vice president for East Asia and Pacific Region, Xinhua reported.


Cox said she will travel to Myanmar to gain a firsthand assessment of the situation.


"Our primary goal is to help the people of Myanmar," Cox said. "This is a country which has been closed to the outside world for decades -- so we're now preparing a strategy to guide our work with the government to improve services for the people -- and assist in tackling the country's development challenges."


Before the Bank launches its program in Myanmar, the unpaid debts of the country should be cleared, which include $393 million to the World Bank, about $500 million to the Asian Development Bank, said Cox.


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