Blog · Professional

Journal Entry, Burma’s Economic Transition

Written on Wednesday, April 24, 2013
Event New Rules for Global Finance Co-Sponsored at the IMF-World Bank Spring Meetings 2013

IFIs and Aid Coordination in Burma’s Economic Transition

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Summary:

The panel consisted of international financial institutions (IFIs) representatives speaking in broad terms about future loans and projects, emphasizing infrastructure, micro financing, fiscal policy support, and telecommunications. For example, aid efforts focused on urban microfinance and technical support to the government. The reps from civil society organizations in Burma asked for IFIs to develop a greater understanding of the real economic needs in Burma and greater engagement with Burmese civil society when crafting future projects.

Key Points:

  •          Outreach issues concerning the World Bank’s $80 million National Community Driven Development Project (CDD)
  •          Kanthan Shankar, Burma’s Country Manager for the World Bank explains the World Bank’s 18-month interim strategy
  •          3 phrases of the Asian Development Bank’s activities in Burma
  •          Sergio Pimenta, the IFC East Asia and Pacific Director stressed the importantance the private sector is in the development agenda
  •          Yu Ching Wong, IMF Resident Representative of Myanmar (appointed this month), spoke a bit about the IMF’s enhanced engagement with Burma
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