Arab Today, arab today wb ok\s funds to myanmar as muslims continue to suffer
Last Updated : GMT 19:22:38
Arab Today, arab today
Arab Today, arab today

WB ok\'s funds to Myanmar as Muslims continue to suffer

Arab Today, arab today

Arab Today, arab today WB ok\'s funds to Myanmar as Muslims continue to suffer

Sittwe - AFP

Myanmar: Despite the massacre and atrocities perpetrated on the Rohingya Muslims in Myanmar, the World Bank has announced fresh aid to the government. Muslims in Myanmar are being killed and forced to flee their villages and cities. More than 100,000 people have been displaced since June in two major spasms of violence in western Rakhine state. The World Bank announced yesterday it will inject $245 million of aid into Myanmar to support its reform drive, resuming assistance for the former pariah nation after a quarter-century absence, officials said Friday. The Bank has earmarked $80 million for a grant and $165 million for a no-interest loan for poverty alleviation schemes, including microfinance, according to the bank’s office in Yangon. Infrastructure projects in villages in rural areas would be among the beneficiaries, the bank said after its board of directors in Washington approved a new strategy for helping the former junta-ruled country. “We want the people of Myanmar and the poor in particular to see the reform can lead to real benefits,” said Kanthan Shankar, the World Bank’s country manager for Myanmar. “We are here to help Myanmar reduce poverty by strengthening institutions... supporting projects for the poor,” he added, citing building the capacity of banks and providing funds for microfinance and infrastructure as priorities. Despite rich natural resources, almost one-third of Myanmar’s population lives below the poverty line, according to the World Bank. The Washington-based institution closed its Yangon office in 1987 and ceased new lending after the then-ruling junta stopped making payments on debts worth hundreds of millions of dollars left from previous programs. A hurdle for the resumption of aid has been how to deal with the unpaid money, including arrears of almost $400 million owed to the World Bank. The Bank, which opened a new office in Yangon in August, said Friday that it was working with Japan and the Asian Development Bank to resolve the issue and expected to clear the arrears in early 2013. Myanmar President Thein Sein has overseen a series of dramatic reforms since taking office last year, including the release of political prisoners and the election of Nobel Peace Prize winner Aung San Suu Kyi to Parliament. In response, the West has begun rolling back sanctions and foreign firms are lining up to invest in the country, eying its huge natural resources, large population and strategic location between China and India. Japan agreed in April to forgive $3.8 billion of Myanmar’s bilateral debt, as donors rally to help the nation’s battered economy. Myanmar also owes roughly $500 million to the Asian Development Bank, which is returning to the country for the first time since 1988. The country was once known as the “rice bowl of Asia” because of its agricultural riches. But economic mismanagement during nearly 50 years of direct military rule left the country deeply impoverished.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today wb ok\s funds to myanmar as muslims continue to suffer Arab Today, arab today wb ok\s funds to myanmar as muslims continue to suffer

 



Arab Today, arab today
Arab Today, arab today Reveals his participation in "Fashion Star" TV show

GMT 12:49 2017 Wednesday ,01 March

Reveals his participation in "Fashion Star" TV show
Arab Today, arab today Tabarka beauty between sea, mountain

GMT 06:37 2017 Wednesday ,01 March

Tabarka beauty between sea, mountain
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Russia, China veto UN resolution

GMT 07:27 2017 Wednesday ,01 March

Russia, China veto UN resolution
Arab Today, arab today NUMP's conference to discuss proplems

GMT 13:40 2017 Wednesday ,01 March

NUMP's conference to discuss proplems
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Lasers flesh out dino-bird profile

GMT 12:24 2017 Wednesday ,01 March

Lasers flesh out dino-bird profile
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Final Phantom VII signals end of an era

GMT 14:31 2017 Tuesday ,28 February

Final Phantom VII signals end of an era
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Najla Badr will participate in “30 Days” drama

GMT 06:23 2017 Monday ,27 February

Najla Badr will participate in “30 Days” drama
Arab Today, arab today Humans spark most US wildfires

GMT 14:58 2017 Tuesday ,28 February

Humans spark most US wildfires

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 07:54 2017 Wednesday ,01 March

Shanghai expands public smoking ban

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:27 2017 Wednesday ,01 March

GSMA: 5 billion mobile phone users in 2017

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday