Myanmar Monitor

World Bank

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Economy, Investment and Trade

Myanmar receives US$200 million zero-interest credit from World bank
(22 August 2017) Myanmar signed a US$200 million deal with zero interest with the World Bank to improve the country through programmes in areas of public debt management, tax collection and public finance management. The planned programmes echo Myanmar’s first ‘macroeconomic stability and fiscal resilience development policy operation’ which is aimed at speeding up the country’s economic changes for peace and prosperity.
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Australian business chambers in Myanmar agree to merge
(22 August 2017) The Australia-Myanmar Chamber of Commerce and AustCham Myanmar, two competing Australian business chambers, have merged to become the Australian Chamber of Commerce based in Yangon. According to Australian ambassador to Myanmar Mr Nicholas Coppel, the merged chambers will strengthen the support for the Australian business community in Myanmar.
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Foreign & Internal Affairs

US helps Myanmar in boosting national security
(23 August 2017) The United States and Myanmar signed an agreement renewing the cooperation between the two countries in fighting transnational crimes. According to a statement released after the agreement was signed, in 2016 the US contributed more than US$11 million to support Myanmar’s law enforcement and rule of law sectors including the civil departments, courts, prosecutors and the police.
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Myanmar’s infrastructure gap estimated to be at US$112 billion
(16 August 2017) According to a survey released by the Global Infrastructure Outlook report, Myanmar has the largest infrastructure gap of the 50 nations surveyed. The gap is estimated to be US$112 billion. The country’s road network only covers 40% of the country while only 35% of population has access to electricity, as reported by the Asian Development Bank (ADB). Former ADB Myanmar Country Director Winfried Wicklein said Myanmar will continue losing opportunities including those provided by the the Belt and Road Initiative if it does not show improvement.
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Survey shows economic development most important to citizens
(23 August 2017) A survey conducted by the International Republican Institute showed that citizens of Myanmar believe that economic development is more important than democratic reform. Only 24 percent of respondents said democratic reform was more important than economic development while another 11 percent described democratic reform as moderately important. According to Rob Varsalone of Global Strategic Partners which supervised the survey, voters are focusing on their socio-economic life and will accept the government if it solves their livelihood problems.
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