Myanmar aims to borrow USD 1 billion for vaccines

The Myanmar government is requesting a total of roughly USD 1 billion in loans to buy its first COVID-19 vaccines. It has petitioned the World Bank, IMF, ADB and JICA, U Tun Tun Naing, permanent secretary of the Ministry of Planning, Finance and Indu
USD 171 Million ADB loan to help expand electricity access

USD 171 Million ADB loan to help expand electricity access

The Asian Development Bank (ADB) announced on December 5th it has approved a USD 171.27 million loan to help Myanmar construct 44 medium-voltage substations and 1,006 kilometers of distribution lines across Kayin state and the Ayeyarwady, east Bago,

ADB optimistic about Myanmar growth

An updated outlook report by the Asian Development Bank (ADB) predicts a return to the pre-pandemic growth rate in the next fiscal year. Although the report (titled “Wellness in Worrying Times”) sets Myanmar’s final growth for the c

ADB lends USD 171.3 million for power projects

Parliament has approved a loan of USD 171.3 million from the Asian Development Bank to fund rural electrification. The money will go towards new power generation, transmission, and distribution infrastructure meant to provide electricity to over 400,

ADB drops growth forecast to 1.8%, WB to 0.5%

In a new forecast, the Asian Development Bank has predicted Myanmar’s economy to grow only 1.8% in 2020 as the COVID-19 pandemic wreaks economic havoc throughout the continent. The prediction came in a June update of the ADB’s annual Asia
IMF and the World Bank slashes growth forecasts

ADB and IMF predict growth despite pandemic

Current forecasts predict Myanmar to be one of Asia’s few economies to grow amid the COVID-19 pandemic. The recently-released Asian Development Outlook from the Asian Development Bank predicts the Myanmar economy to grow 4.8% this year despite