The Asian Development Bank (ADB) has opened an office in Myanmar, marking renewed support for the country.
Myanmar is also represented in the ADB’s board of directors again, since the addition of Khin Khin Lwin on July 16.
Stephen Groff, ADB vice-president for East Asia, Southeast Asia and the Pacific, says: “Establishing an office in Myanmar allows us to deepen our understanding of the challenges facing the country, and how best to offer assistance to achieve inclusive and sustainable economic growth.
“It’s crucial that we understand the reality facing Myanmar as we work with the government to formulate a partnership strategy for successful development and poverty reduction.”
The last time an official from Myanmar was represented on the ADB’s board was in 2003, and the bank had not had any operations in the country since 1988.
According to the ADB, Myanmar is one of the poorest countries in the world, with one in four of the country’s 60 million people living in poverty. The bank has completed preliminary needs assessments in the transport, energy, agriculture, natural resources, education and infrastructure sectors, and will expand its analytical work and provide technical assistance for capacity building from its new office.