The Asian Development Bank has approved an interim strategy for Myanmar that sets the stage for the organisation’s re-engagement with the country 25 years after it suspended assistance.
ADB’s decision, taken on Friday, comes ahead of a vote by the World Bank next week to adopt a similar plan – a process of re-engagement that reflects an unusually high degree of co-operation between the two banks.
In an assessment published in August, the ADB forecast that Myanmar’s economic growth would accelerate to about 6.3 per cent in 2013 and 6.5 per cent in 2014, from 5.5 per cent this year. It also predicted that Myanmar would become one of Asia’s “rising stars”.
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