An article by Reuters.
The World Bank’s board on Tuesday approved a $140 million interest-free loan to fund a more efficient power plant in Myanmar, as the bank seeks to support reforms in the Southeast Asian country.
The World Bank has stepped up its engagement with Myanmar, which is rich in resources but underdeveloped after decades of isolation under military rule. The quasi-civilian government that came to power in 2011 re-engaged with lenders and has started implementing political and economic reforms.
Myanmar overcame a major hurdle to getting help from international financial institutions in January, when it cleared about $420 million in debt arrears accumulated under the military
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