World Bank to loan $100 million to Myanmar financial development project
World Bank and government representatives recently signed an agreement for a US$100 million (K134.9 billion) World Bank loan to the Myanmar Financial Development Project in mid-April. The representatives signed the loan for SDR71.700 million, which equals US$100 million, from the World Bank with low interest. Ulrich Zachan, country director for the World Bank, signed the financial agreement with the representative of the Treasury Department, under the Ministry of Planning and Finance, and the project agreement with the Central Bank representative for loan requests. The loan comes from the World Bank International Development Association’s fund intended for developing countries.
